The impulsive wave (5) continues to rally to the lower side perfectly as forecasted. Following the break below contracting wedge formation, the bears have dominated this market and chances of continuing even lower are very high. Thus, we highly recommend looking for short order. For risk management purposes, we recommend waiting for a correction towards 1.1560 then picking a low risk sell position with an ultimate target at 1.1021. This view will only be invalidated in case the price breaks above 1.1830, this being the case, we'll expect a rally upwards.
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