Main scenario: consider long positions from corrections above the level of 1749.36 with a target of 1958.14 – 2016.10.

Alternative scenario: Breakout and consolidation below the level of 1749.36 will allow the pair to continue declining to the levels of 1673.40 – 1568.91.

Analysis: an ascending third wave of larger degree (3) formed on the daily time frame, and a descending correction developed as wave (4), supposedly. The fifth wave (5) appears to be developing on the H4 time frame, with the first wave of smaller degree 1 of (5) formed and a downward correction completed as wave 2 of… Read full author’s opinion and review in blog of #LiteForex

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