waiting (Time will tell)
The analysis is based on weekly timing. It seems that a harmonic pattern is forming. The PRZ zone marks the end of the big wave C, as well as the top of the ascending channel (although Glenn Neely says( in the book Master Elliott Waves), in the zigzag wave C It should end below or above the channel line.)
What is characteristic is that it is currently an upward trend and there is a long time left until the price approaches the specified area and many things may happen.
That's all I got from this chart. But do the fundamental indicators of this currency pair also support our analysis or I don't know?!
What is characteristic is that it is currently an upward trend and there is a long time left until the price approaches the specified area and many things may happen.
That's all I got from this chart. But do the fundamental indicators of this currency pair also support our analysis or I don't know?!
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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.