Estimated pivot point is at a level of 1.0200.

Our opinion: Sell the pair below the level of 1.0200 with a target at 0.9948 – 0.9866.

Alternative scenario: Breakout and consolidation above the level of 1.0200 will allow the pair to continue rising to a level of 1.0300.

Analysis: Supposedly, the ascending correction of senior level in a form of the wave 2 has been formed. Apparently, a counter-trend impetus is forming locally as the first wave of junior level (i). If the assumption is correct, the pair will continue to drop to the levels of 0.9948 – 0.9866. The level 1.0200 is critical in this scenario.



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