The counter has completed its first leg (wave A) of the bear cycle with a 5-wave formation.
Now, it is at a strong resistance zone which can trigger the wave B correction.
Hence, we expect the pair to be bearish in the near-term.
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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.