The price is expected to resume its upward movement, realizing one of the possible bullish scenarios. The primary scenario assumes the formation of an upward impulse with an extending Wave 3.
Accordingly, we are currently seeing the development of this third wave. If this is indeed the case, we can expect a continuation of the impulsive uptrend, followed by a corrective pullback, and then another wave upward. Only after the completion of Wave 3, marked on the graph above, will the market see the next leg of growth.
Maintaining previously opened buy positions remains a viable trading strategy. Entering into additional long positions is also feasible, particularly after a pullback to the local maximum.
Investment idea: Buy 1.0525, Stop Loss 1.0500, Take Profit 1.0620.
Origin: FreshForex
