Estimated pivot point is at the level of 1.4350

Our opinion:Sell the pair from correction below the level of 1.4350 with the target of 1.39.

Alternative scenario:Breakout and consolidation of the price above the level of 1.4350 will trigger the rise in the pair up to the level of 1.4650.

Analysis: Presumably, the formation of the third wave of the senior level iii of 5 continues. Locally, it is likely that the upward correction (iv) of iii is nearing completion. If this assumption is correct, after the completion of the correction the pair may go down in the fifth wave (v) to the level of 1.39. Critical level for this scenario is 1.4350.



The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Follow us in social networks!
Live Chat
Leave feedback