According to my long term analysis i think this pair is starting a big correction.
Its not late to join this move. Right now price is making a pullback after making a NHL (new structure low).
We can see:
- strong structure as resistance
- 0.50 fib retracement
- Elliott wave 2 or B
- price is testing broken trendline
- convergence on MACD
Potential targets:
- AB=CD (blue line)
- 1.61 fib extension
Best regards
We can see:
- strong structure as resistance
- 0.50 fib retracement
- Elliott wave 2 or B
- price is testing broken trendline
- convergence on MACD
Potential targets:
- AB=CD (blue line)
- 1.61 fib extension
Best regards