Main scenario: consider short positions from corrections below the level of 1.3908 with a target of 1.3660 – 1.3572.

Alternative scenario: breakout and consolidation above the level of 1.3908 will allow the pair to continue rising to the levels of 1.4017 – 1.4253.

Analysis: Presumably, the first wave of larger degree (1) finished developing on the daily time frame, with wave 5 of (1) formed inside. A descending correction started developing as wave (2) on the H4 time frame, with waves A of (2) and B of (2) formed inside. Apparently, a descending wave С of (2) continues developing on… Read full author’s opinion and review in blog of #LiteForex

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