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Low activity persisted throughout the past trading day. Meanwhile, the price grew slightly and updated the previously established high. This shifted the boundaries of the presumed correction and negated the possibility of forming a contracting horizontal triangle as Wave 4.
It is likely that the corrective wave is taking the form of either a flat or a double-three structure. Both options suggest movement toward the marked lower boundary of the range within which this wave is developing.
Thus, before buying, it is worth trying to profit from sell trades by opening positions at current market values.
Investment idea: SELL 1.0930, SL 1.0945, TP 1.0850.
Origin: FreshForex
