Main scenario: consider long positions from corrections above the level of 1891.42 with a target of 2050.00 – 2100.00.
Alternative scenario: breakout and consolidation below the level of 1891.42 will allow the pair to continue declining to the levels of 1859.35 – 1805.16.
Analysis: On the daily chart, the fourth wave of greater degree (4) has ended and a downside correction is now forming. The fifth wave (5) is still forming. The first wave of smaller degree 1 is now formed. A local correction is then completed as wave 2 on the H4 chart. The third wave… Read full author’s opinion and review in blog of #LiteFinance