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Buyers continue their desperate attempts to rectify the situation, and this is bearing fruit. The price grows with great difficulty, but growth is observable. This may only be the beginning, and in the near future, we may see a more powerful advance.
From a wave analysis standpoint, the situation looks as follows. The corrective decline, presumably taking the form of a simple zigzag, appears to be complete. This corrective structure formed within the framework of Wave 4 of the upward impulse. Subsequent growth is thus driven by the development of Wave 5 of the same bullish impulsive movement.
This impulsive surge will lead to the establishment of new highs, presenting an opportunity to extract good profits from buy trades.
Investment idea: BUY 1.0800, SL 1.0770, TP 1.1050.
Origin: FreshForex
