Wave analysis and forecast for 10.03 – 17.03: The pair is undergoing correction. The decline is likely to continue.
Estimated pivot point is at the level of 1.0157.
Analysis: Presumably, the formation of the first wave I within the third wave of the senior level continues. Locally, it is likely that the downward correction ii of 3 is being developed within which a wave (a) is being formed. If this assumption is correct, the decline in the pair can continue to 1.0050 – 1.0014. Critical level for this scenario is 1.0157.
Alternative scenario: Breakout and consolidation of the price above the level of 1.0157 will trigger the rise in the pair to 1.0220 – 1.0280.
Our opinion: Sell the pair from correction below the level of 1.0157 with the target of 1.0050 – 1.0014.
Do You Want To Make Thousands Of Dollars Extra Cash Every Month
From Forex Trading In Pakistan?
Subscribe To Our Mailing List And Get Free Forex Training Videos, Free Forex Trading Strategies, Free Forex Indicators, Robots And Free Forex Analysis From ForexGuru.Pk Team In Your Email
We Respect Your Privacy And Protect It Seriously