As expected we moved higher above the 1.50 level and completed a zig-zag correction. This correction was preceded by a complex double zig-zag wave (A).
Now we have got a possible leading diagonal wave a (or 1) that this market is currently correcting in what looks like a zig-zag formation.
We have got bullish RSI divergence as well as a bullish engulfing pattern which are indicating that we should see more gains in the sessions ahead. New lows below 1.367 are expected as the 1.533 level stays intact.
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