The recovery from 1.9385 to 1.9736 was corrective in nature. The subsequent fall is also corrective in nature upon me. It could finish every moment and a new rise could start in wave C for a high above 1.9736. A move above 1.9500 would signal that the anticipated rise has already started. A key support is 1.9385 so the stop loss of the current long position is just below it.

Trading strategy: 08:00 EST; 13:00 GMT

Long position from1.9474, stop loss - 1.9384, target - open

Confidence level – low

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.