A flat correction is nicely unfolding. We saw the top of wave b at 1.6808. Now we are looking look for wave c moving lower to 1.6325 or just below to end wave 2 and set the stage for wave 3 higher.
In the longer term, we continue to look for much higher levels with 1.7277 being the next major upside target.
We will look for a buying opportunity as wave c of 2 progresses.
The material has been provided by InstaForex Company – www.instaforex.com