The final say last trading week still remained with the sellers. Buyers were unable to sustain their local success, and the price ultimately declined. However, this decline is likely to be corrective in nature. Indications of a potential end to the downward impulse movement and a successful attempt at growth suggest that a correction may be underway.

The correction is expected to take the form of a zigzag pattern. In this case, the leading waves of this model will be formed impulsively. Therefore, in the near future, we may see the resumption of an upward movement in a five-wave formation. The anticipated price movement is schematically represented in the chart above.

Given this scenario, it may be worth considering buying opportunities at current market levels.

Recommendations: Buy 1.0800, SL 1.0775, TP 1.0930.