The price continues to trade according to the previously reviewed wave scenario. Following an impulsive decline, an equally swift impulsive rise ensued. Buyers nearly completely regained their lost ground. However, it is unlikely that they will be able to maintain this confidence.
It is expected that the rate will grow slightly more and reach the local resistance level established by Wave 1. After this, the price may get stuck in a correction for a long time, moving horizontally or bouncing back down.
While there is still a small chance for growth, cautious buys can be considered.
Investment idea: BUY 1.0495, SL 1.0475, TP 1.0530.
Origin: FreshForex
