The previous trading day was so calm that it seemed like there was no trade at all. The price slightly updated the minimum and stopped. But this is enough to consider the entire downward movement, which began at the end of August, as a zigzag. And the critical level is already very close, breaking through which can affect only the nature of the rising price structure.
So instead of a classic impulse, it may turn out that this is a diagonal triangle. Both options assume growth within the formation of wave 5.
Also, an optimal point for entering a buy deal has been formed – this is the level of 1.1050.
Investment ideas in this situation may have the following parameters: buy 1.1050, stop loss 1.1025, take profit 1.1200.
Origin: FreshForex
