The pair is expected to decline.
Presumably, the fifth wave has finished developing within a counter-trend wedge forming as the first wave 1 of senior level. Apparently, a bearish correction has started forming to about 1.0800. A counter-trend impetus (i) is formed locally. A correction is developing as wave (ii). If the presumption is correct, after correction, the pair will continue to decline. The level of 1.1411 is critical in this scenario as the breakout will make the pair grow to about 1.1500–1.1600.read more >>