During the previous trading day, the corrective wave (b) extended significantly to the lowerside but failed to break below the 4 hour support level 0.4134. As long as the price is contained above the level, we expect the corrective wave (b) to end around this level, that any clear movements to the upperside will be the unfolding of the impulsive wave (c) and should break above 0.5414 but should not go beyond 0.6735. This view can only be invalidated in case the price breaks below 0.4134.
We’re looking for a possible long position from 0.4134
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