Main scenario: consider long positions above the level of 1749.91 with a target of 2070.98 – 2150.00 after correction. Alternative scenario: breakout and consolidation below the level of 1749.91 will allow the pair to continue declining to the levels of 1671.75 – 1616.95. Analysis: The third wave of larger degree (3) continues developing on the daily chart, with the fifth wave 5 of (3) forming inside. Wave iii of 5 appears to be completed and a local correction is developing as the fourth wave iv of 5 on the H4 chart. Apparently, wave (с) of iv is nearing completion on the H1 chart. If this assumption is ... (full story)