2016-09-23 17:11:30

Estimated pivot point is at the level of 1.3115.

Our opinion: Sell the pair from correction below the level of 1.3115 with the target of 1.2863 – 1.2716.

Alternative scenario: Breakout and consolidation of the price above the level of 1.3115 will enable the pair to continue the rise up to 1.34.

Analysis: Presumably, the formation of the correction, as the wave 2 completed. Locally, it is likely that the third wave is being developed, within which bearish impetus as the wave волны i of 3 is being formed. If this assumption is correct, the pair will continue to decline to 1.2863 – 1.2719. Critical level for this scenario is 1.3115.