Weekly chart remains bearish. Rally to 1.0783 ended wave ((w)) FLAT. A multi-month wave ((x)) pullback is now in progress to correct the rally from (b) low at 0.765 - ((w)) high at 1.0783 towards an ideal target of 0.833 - 0.8716.
Wave ((x)) pullback is unfolding in the form of a double corrective structure (w)-(x)-(y) where wave (w) ended at .9175, wave (x) ended at 1.035, and wave (y) is currently in progress towards 0.9096 - 0.933 to complete red wave w.. Once red wave w is complete, the pair should bounce in red wave x before the decline resumes again towards 0.833 - 0.87
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.