The situation in this pair is continuing to unfold according to the previously discussed wave scenario. After a fairly strong upward move, likely driven by the development of the third wave of the upward impulse, the price started to decline. Based on the current situation, this decline is due to the formation of the fourth wave, and at the moment, this correction looks unfinished. In this case, we won’t see any directional price movement for the near future. The price will likely stay within a certain range until the fourth wave is ready. Then, an impulsive rise is expected, completing the entire impulse. In this wave, it will be a good time to actively buy. Until then, it is advised to watch the developments without being in any trading positions.
Investment idea: flat.
Origin: FreshForex
