The situation for the pair in question also remains under bearish control. In the near future, it is expected that the price will continue to decline, during which the current local minimum will be updated, after which buyers are likely to take retaliatory measures.
It is this possible corrective upward movement that should be emphasized, since the potential for the remaining further decline looks insignificant and can be sold at a very unfavorable price.
It also cannot be ruled out that the correction will not develop in the form of a good pullback movement, but will go into a protracted horizontal plane in a certain price channel. But even in this case, some growth will occur.
Thus, in the current situation, it is recommended to wait for the completion of the current downward movement cycle and look for opportunities to enter into purchase transactions in order to take a corrective pullback movement.
Investment idea: flat.
Origin: FreshForex
