The situation with this pair is also developing within the framework of the previously discussed wave scenario, similar to EUR/USD. During the past day, the course not only rose but also managed to update the maximum of the current year set by the presumed Wave 3 in the forming initial diagonal triangle.
Formally, this model can be considered fully formed, but most likely, the price will attempt to go even higher. At the same time, this growth will still be part of Wave 5. However, before another surge, a correction is expected. For some time, the price will likely either stand still or move down slightly.
For this reason, it is not recommended to open any trade positions.
Investment idea: flat.
Origin: FreshForex
