It appears that the corrective decline — which took the form of a double zigzag — has completed. During the previous trading session, we observed a modest yet steady rise. This could mark the beginning of an impulse that may evolve into a strong and prolonged upward move.
In the near term, a corrective test is expected. Buyers will need to pass this test successfully, as the overall trend remains bearish — and sellers could seize back control at any moment.
The anticipated pullback is expected to be mild, roughly as illustrated on the chart.
Given this, it may be worth taking a measured risk: opening buy positions during the dip.
Investment idea: BUY 1.1510, SL 1.1470, TP 1.1670.
Origin: FreshForex
