Price has perfectly followed the previously discussed scenario, completing the corrective decline and entering an impulsive upward phase. The price rapidly reached the level of the local high, where market activity suddenly weakened. It appears that a correction is now unfolding, which may continue throughout the coming week.
No significant directional movement should be expected during this period — the pair will likely trade sideways within a certain range, regaining balance. After this consolidation, a sharp breakout attempt is expected. In our case, the most likely scenario is a resumption of the impulsive upward move.
Previously opened positions should either be closed or moved to break-even. Opening new trades is not recommended at this time.
Investment idea: FLAT.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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