The counter had completed its long-term wave 4 with an ABC correction.
It had bounced off from the lows strongly by crossing the resistance at 1.1706.
Further, if the price sustains at a higher level for the day, it could be interpreted as a morning star formation.
We expect the pair to race away to highs and complete the wave 5.
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Disclaimer
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.