The corrective decline in wave B turned out to be deeper than anticipated. The price tested the local low zone, from which it instantly started rebounding. It’s possible that this marks the beginning of an upward impulse forming as wave C within wave X.
In this case, we can expect a good directional movement in the near future, which is worth considering trading. However, it’s unlikely that we will see a retest of the local high established on September 17 of this year.
It’s possible to open buy trades at current market values in this situation.
Investment idea: BUY 1.1700, SL 1.1670, TP 1.1850.
Origin: FreshForex
