Main scenario: consider short positions from corrections below the level of 1885.00 with a target of 1781.66 – 1719.73.
Alternative scenario: breakout and consolidation above the level of 1885.00 will allow the pair to continue rising to the levels of 1954.82 – 1987.87.
Analysis: A descending correction is seen as the fourth wave of greater degree on the chart. The fifth wave is in progress, and its first wave has already been formed. Apparently, a downside correction continues developing as second wave 2 of (5) on the H4 time frame, with wave c… Read full author’s opinion and review in blog of #LiteFinance