Are you stuck?
Since the beginning of today's trading session, the pair is slowly rising. We still believe that the pair will fall below the 1.15 mark. However, at the moment, the price has turned around. The price began to rise not reaching the lower border of the corridor.
On Thursday, amid fears of investors about the trade war and Friday's completion of the week, investors tried to record profits. Therefore, our pair stayed in the existing corridor 1.17-1.15 and this means that the 4th wave continued its operation. An alternative option would be a breaking of the upper boundary of the corridor and the price movement to the level of 1.1850.
At the moment, we recommend waiting for the exit from the corridor and only then take positions.
On Thursday, amid fears of investors about the trade war and Friday's completion of the week, investors tried to record profits. Therefore, our pair stayed in the existing corridor 1.17-1.15 and this means that the 4th wave continued its operation. An alternative option would be a breaking of the upper boundary of the corridor and the price movement to the level of 1.1850.
At the moment, we recommend waiting for the exit from the corridor and only then take positions.
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