Main scenario: consider short positions from corrections below the level of 1962.00 with a target of 1788.55 – 1747.55.
Alternative scenario: breakout and consolidation above the level of 1962.00 will allow the pair to continue rising to the levels of 2050.00 – 2200.00.
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 and the fifth wave (5) unfolding inside. Apparently, the first wave of smaller degree 1 of (5) is formed on the H4 chart, and a local correction is developing as the… Read full author’s opinion and review in blog of #LiteFinance
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