Continuing my analysis on December 15, we expect a further decline in exchange rates. The exchange rate builds on a double falling wave system. According to a theoretical rule of the wave, a so-called "sub-wave" movement (yellow rectangle
) appeared in the correction range, which is supposed to be associated with the closing of the second wave. In short, the size of the second wave can increase with the size of this sub-wave. This may also increase the purpose of decreasing motion. We expect an additional 19% reduction from the current level. The target price can be 241 usd.