Main scenario: consider short positions from corrections below the level of 1847.94 with a target of 1788.55 – 1747.55.
Alternative scenario: breakout and consolidation above the level of 1847.94 will allow the pair to continue rising to the levels of 1961.31 – 2050.00.
Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart, with wave С of (4) completed as its part. The fifth wave, (5), began to develop. The H4 chart shows that the first wave of lower degree 1 of (5) has formed. A local correction is unfolding as… Read full author’s opinion and review in blog of #LiteFinance
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