Main scenario: consider long positions above the level of 1865.40 with a target of 2000.00 – 2050.00 after correction.
Alternative scenario: breakout and consolidation below the level of 1865.40 will allow the pair to continue declining to the levels of 1818.01 – 1772.93.
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 inside. H4 chart. It seems that the fifth wave ((5)) started to form with the first wave (1 of (5) of smaller degree) forming inside. Supposedly, wave iii of 1 finished forming on the… Read full author’s opinion and review in blog of #LiteFinance