Recently, the pair has been steadily rising, and this movement was considered corrective, taking the form of a simple zigzag. It was expected that the price would move higher, forming the final fifth wave of the impulse, which is part of wave c of (ii). However, judging by the current situation, the fifth wave seems to have limited itself to a weak update of the current local maximum.
It is likely that the zigzag has completed its development. Therefore, a strong downward movement is expected in the near future.
There is a reasonably promising opportunity to enter short positions at the very beginning of the movement, so it is recommended to consider this possibility.
Investment idea: Sell at 147.90, stop loss at 148.25, take profit at 144.00.
Origin: FreshForex
