A decline is expected in the correctional wave 2

11.08.2021

For the pair under consideration, everything is going as expected. The price remains under bearish pressure, probably, due to the development of the correction which is taking the form of a simple zigzag. The target of the decline is the level of 61.8% of the previous growth, that is, wave 1.

The price still has room to fall, therefore, probably, in the near future we will see a further decline in the proposed wave scenario. In this situation, you can try cautious selling with a designated target.

Investment idea: sell 1.3820, stop loss 1.3845, take profit 1.3750.