Main scenario: consider short positions from corrections below the level of 1.2811 with a target of 1.2000 – 1.1850.

Alternative scenario: breakout and consolidation above the level of 1.2811 will allow the pair to continue rising to the levels of 1.3413 – 1.3722.

Analysis: wave (С) of 4 of larger degree continues developing on the daily time frame, with the third wave 3 of (C) formed inside. An ascending correction finished developing as the fourth wave 4 of (C), and the fifth wave 5 of (C) is forming now on the H4 time frame. Apparently, the first counter-trend wave of… Read full author’s opinion and review in blog of #LiteForex

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