Main scenario: consider short positions from corrections below the level of 1.1882 with a target of 1.1600 – 1.1489.

Alternative scenario: breakout and consolidation above the level of 1.1882 will allow the pair to continue rising to the levels of 1.2269 – 1.2500.

Analysis: Daily time frame: presumably, the first wave of larger degree 1 of (3) formed, and a downside correction is forming as wave 2 of (3). Apparently, wave a of 2 and an ascending wave b of 2 formed on the H4 time frame. A descending wave c of 2 is developing on the H1 time frame,… Read full author’s opinion and review in blog of #LiteForex

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