Estimated pivot point is at the level of 1.2655.

Our opinion:Buy the pair from correction above the level of 1.2655 with the target of 1.3294.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.2655 will trigger further decline to 1.24 – 1.23.
Analysis: Presumably, the formation of the upward correction continues in the wave B of the senior level. At the moment, it seems that the wave с of B is being developed, within which one-two wave (i) has been formed. If this assumption is correct, after the completion of the correction (ii) the pair may continue to rise to the level of 1.3294 within the wave c of B. Critical level for this scenario is 1.2655.



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