The price continues to remain under pressure, receiving an aggressive response to each attempt to resume growth. This is likely due to the ongoing development of a correction, which so far appears as a double zigzag. The second part, wave y, is currently being formed. If this is indeed the case, there is a high probability that the price will decline a bit further to complete this corrective pattern. Then, all this decline will become wave 2 in the emerging upward impulsive move. After that, we should wait for confirmation of the price’s intention to rise within wave 3. The potential for impulsive growth in this case is quite large, so it’s worth waiting for an opportunity to buy. Until then, one could try quick sell positions at current market levels.
Investment idea: 1.0355, stop loss 1.0375, take profit 1.0300.
Origin: FreshForex
