Daily
8-Hourly
Wave summary:
After an unexpected break below 1.4737, we need to allow for more downside closer to 1.4590 before the ending diagonal from 1.5837 finally completes and a new impulsive rally can materialize.
Only a direct break above resistance at 1.5092 will confirm that the end ending diagonal has completed and a new impulsive rally is developing towards 1.5837 as the first upside target, but longer term, much more upside is expected.
Trading recommendation:
We have placed a buy-order at 1.4610 or upon a break above 1.5092. With stop placed at 1.4585.
The material has been provided by InstaForex Company - www.instaforex.com