Main scenario: consider long positions from corrections above the level of 0.9710 with a target of 1.0025 – 1.0200.
Alternative scenario: breakout and consolidation below the level of 0.9710 will allow the pair to continue declining to the levels of 0.9539 – 0.9456.
Analysis: A downward first wave of larger degree (1) of 5 is formed on the daily chart, and a bullish correction continues developing as the second wave (2) of 5, with wave C of (2) continuing to form as its part. Supposedly, the third wave iii of C is developing on the H4 chart, with wave (iii)… Read full author’s opinion and review in blog of #LiteFinance