The price continued its decline as предполагаed, but the momentum has weakened. After breaking the local support level and testing it from the other side, the price didn’t fall significantly further.
It’s possible that sellers are satisfied with this outcome. Formally, all rules have been followed, and the zigzag pattern is complete. We can consider the downward correction finished and anticipate a reversal — which may occur in the near future.
In this context, it’s worth considering buy trades at current market levels, with a protective STOP LOSS placed slightly below the previously formed low. A return of the price above this level would serve as an additional signal for further upward movement.
Investment idea: BUY 1.1520, SL 1.1495, TP 1.1580.
Origin: FreshForex
