The correction stage, how long we waited for it and finally it arrived. The currency pair still managed to find a support in the area of 1.1500, where after a fleeting slowdown, buyers returned to the market. Now the quotation has already reached the periodic level of 1.1720, where at the same time there is an interlacing with the Fibo value. Has correction come to an end? I would not be so critical about this issue, we have previously seen a colossal downward movement and the "bears" still need a breather. What we have now is the compression between the values of 1.1650/1.1720, but this is a temporary factor, and we should carefully analyze the fixations beyond these boundaries.
But, as what was written earlier, "bears" still need a respite, so there is an inclination to break the upper boundary, with the prospect of a move to 1.1800/1.1900. Now they took on a position on the" fence", in anticipation of clear fixations.