2016-09-02 17:29:06

Estimated pivot point is at a level of 0.9882.

Our opinion: In the short term: sell the pair from a correction below a level of 0.9882 with a target at 0.9664. In the medium term - wait till the correction ends and buy the pair with a target of 1.0010.

Alternative scenario: Breakout and consolidation above the level of 0.9882 will allow the pair to continue rising to a level of 1.0010.

Analysis: Supposedly, an upward correction continues to form as the second wave ii of senior level. Apparently, the final wave (с) of ii is forming locally, with the first wave i of (c) completed and a descending correction ii of (c) developing within. If the presumption is correct, the pair will logically continue to rise to a level of 1.0010 after the correction comes to an end.