From the daily timeframe, we were able to count a clear 5 wave structure for this pair, where the 5th wave was an ending diagonal consisting of 5 overlapping sub-waves.
A bearish confirmation signal appears at the end of this tunnel, which is the shooting star on the daily time frame.
There may be a retracement to 50% Fibonacci level of the daily candlestick before selling.
The invalidation level is above 1.2000 region
A bearish confirmation signal appears at the end of this tunnel, which is the shooting star on the daily time frame.
There may be a retracement to 50% Fibonacci level of the daily candlestick before selling.
The invalidation level is above 1.2000 region
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Related publications
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.