One of possible version of wave structure suggests that now we are dealing with final ascending wave E of (4), that can develop in the shape of double zigzag or flat pattern.
Probably, ascending zigzag [a] of E is completing, expecting to see descending zigzag [b] of E.
It’s not excluded that ascending impulse (c) of d [a] of E is completing and descending zigzag [b] of E is developing.
Probably, elongated horizontal correction 4 of (A) is developing. In this case, it’s reasonable to expect final squeeze of the price to the upside in the form of the wave 5 of (A). Also, ascending zigzag [d] of 4 of (A) is possibly developing in the present moment.
Possibly, descending zigzag [c] of 4 is completed and ascending zigzag [d] of 4 is developing. In the present moment, local descending correctional move (b) of [d] is in place.
It’s not excluded that ascending zigzag [d] is developing and descending correctional move (b) of [d] is in place. If this assumption is correct, then it’s reasonable to expect final ascending wave (c) of [d] after descending correction (b) of (d).
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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