Main scenario: consider short positions from corrections below the level of 1946.61 with a target of 1834.55 – 1781.66.
Alternative scenario: breakout and consolidation above the level of 1946.61 will allow the pair to continue rising to the levels of 1987.87 – 2059.86.
Analysis: On the daily chart, a correction in the downward direction appears to be the fourth wave of a higher degree. The fifth wave is in progress, with wave 1 of 5 forming as part. Apparently, a downside correction continues developing as second wave 2 of (5) on the H4 time frame chart, with… Read full author’s opinion and review in blog of #LiteFinance
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