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Estimated pivot point is at a level of 1.5167.
Buy the pair above the level of 1.5167 with the target of 1.57 – 1.58.
[b]Alternative scenario: Breakdown and consolidation of the price below the level of 1.5167 will enable the pair to continue decline to 1.5044.
Analysis: Presumably, the formation of the “bearish” correction in the wave B, which has a shape of the zigzag, has completed. At the moment, it is assumed that the reversal has formed and the first one-two wave of the junior level i of C of 2 is being developed. If this assumption is correct and the price will not break down the critical level of 1.5167, the pair can go up to 1.57 – 1.58.
Buy the pair above the level of 1.5167 with the target of 1.57 – 1.58.
[b]Alternative scenario: Breakdown and consolidation of the price below the level of 1.5167 will enable the pair to continue decline to 1.5044.
Analysis: Presumably, the formation of the “bearish” correction in the wave B, which has a shape of the zigzag, has completed. At the moment, it is assumed that the reversal has formed and the first one-two wave of the junior level i of C of 2 is being developed. If this assumption is correct and the price will not break down the critical level of 1.5167, the pair can go up to 1.57 – 1.58.
