The price decline is cascading without any sharp jumps. It looks very much like the development of wave 1, which takes the form of an initial diagonal triangle, is still continuing. Currently, the formation of corrective wave 2 is presumably underway.
As part of the development of this wave, we may see another attempt to rise in the near future, but this will be a deceptive maneuver before the start of the decline in wave 3, which promises to be quite strong.
In this regard, it is recommended to continue considering the current situation for opening short positions. To do this, it is necessary to wait for the breakdown of the local low.
Investment idea: SELL 1.1650, SL 1.1685, TP 1.1450.
Origin: FreshForex
