Main scenario: consider short positions from corrections below the level of 2008.75 with a target of 1910.48 – 1889.05 once a correction is completed.
Alternative scenario: breakout and consolidation above the level of 2008.75 will allow the pair to continue rising to the levels of 2060.00 – 2110.00.
Analysis: On the daily chart, a correction in the form of descending waves (4) appears to be the fourth wave. Fifth wave (5) unfolds, and the first wave of (5) has been formed. Apparently, a descending correction finished developing as second wave 2 of (5) on the H4… Read full author’s opinion and review in blog of #LiteFinance
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