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It is likely that on the daily chart develops the descending impulse from the beginning of last year, in which the wave ((iv)) is in the form of a triangle.

In turn, the wave with с of (c) of this triangle takes the form of a zigzag and is nearing completion.

On the hourly chart, perhaps wave has taken the form of the leading diagonal, wave has already ended and now there is a wave (possibly in the form of a triangle). But there is one interesting moment. The wave turned out to be shorter than wave . And in this case, the final wave should not depend on the wavelength for the price. Then the upward movement will be limited to the level of ~ 1.69 **. That is, soon the couple will work out the wave (d) of the triangle.

The newly formed Bearish Butterfly pattern with the presumed levels of 1.6727, 1.6810, 1.6865 can serve as a confirmation of this scenario.

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