The situation with this trading pair continues to evolve according to the previously proposed wave scenario. The decline that began on January 10th of this year appears to be impulsive in nature. Subsequently, a corrective bounce occurred, which seemingly exhibits characteristics typical of a correction, and is now in its final stages of development.
If this interpretation is accurate, then in the near future, the price will once again head south to form Wave 3 of the anticipated downward impulse movement. Given this, it is worthwhile to carefully evaluate the opportunity to enter into sell positions at current market levels.
Should favorable conditions arise, the price may reach the minimum recorded last year.
Investment idea: Sell 156.50, Stop Loss 156.80, Take Profit 148.50.
Origin: FreshForex
