Buyers have eased their pressure on opponents slightly, but they continue to keep the situation under control. As a result, the rate stalled near the previously established yearly price high. The observed price stagnation at a certain level is likely a preparation for another upward surge, which could happen as early as the next trading day.
This could mark the conclusion of Wave 3 in the forming upward impulse, after which the price will begin a corrective phase. Since the remaining growth potential appears minimal, it is not recommended to open buy trades at current values. It is better to wait for an update of the maximum and then attempt to sell with the aim of riding the correction wave.
Investment idea: SELL 1.0900, SL 1.0930, TP 1.0740.
Origin: FreshForex
