Main scenario: Consider short positions from corrections below the level of 0.9269 with a target of 0.9096 – 0.9055.

Alternative scenario: breakout and consolidation above the level of 0.9269 will allow the pair to continue rising to the levels of 0.9370 – 0.9476.

Analysis: Daily time frame: presumably, a descending first wave of larger degree (1) of 5 formed, and an ascending correction is now developing as second wave (2) of 5. On the H4 time frame, wave A of (2) formed and wave B of (2) finished developing. Apparently, wave С of (2) started developing on the H1 time… Read full author’s opinion and review in blog of #LiteForex

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