Main scenario: consider long positions from corrections above the level of 1805.08 with a target of 1997.97 – 2070.98. Alternative scenario: breakout and consolidation below the level of 1805.08 will allow the pair to continue declining to the levels of 1722.24 – 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 downward correction developed as the fourth wave iv of 5 on the H4 chart. Presumably, the fifth wave v of 5 started developing on the H1 chart, with the first counter-trend ... (full story)