Buyer are at 0.7050 | 01 May 2018

Wave Analysis

Instead of continuing long as previously forecasted, Ripple broke below 0.8349 and is still pretty much below this zone. We expect the downward rally seen from yesterday to be the unfolding of a corrective three wave cycle and should not go beyond the 4 hour support level 0.7050. We expect the current downward rally to be the unfolding of the impulsive wave (c) towards 0.7050, where we'll be looking for potential buy positions. If you're not already in a trade now, you could buy this pair upon a rebound from 0.7050, or above 0.8348 or remain flat.

Trade Recommendation.

Watch for a potential buy around 0.7050