Estimated pivot point is at the level of 1.2818. 

Analysis: Supposedly, the fifth wave 5 of senior level continues to form with the first counter-trend wave i of 5 developing within. Apparently, the fifth wave of junior level (v) of i is developing now. If this assumption is correct, the pair will continue declining to a level of 1.2460. The level 1.2818 is critical in this scenario. 

Alternative scenario: Breakout and consolidation above the level of 1.2818 will allow the pair to continue rising to a level of 1.2980. 

Our opinion: Sell the pair from corrections below the level of1.2818 with a target at 1.2460. Buy the pair with a target at 1.2980 in case the level 1.2818 is broken. 

 




Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.



Follow us in social networks!
Live Chat
Leave feedback