The counter has made a strong move from the low of 0.80 handle to 0.93 handle in just 3 months.
The move could be attributed to a 5-wave pattern and it is now in corrective mode.
It has completed waves A and B is going to kickstart wave C.
The resistance zone around 0.93 handle proves to be a tough nut for the pair despite trying to take it down thrice.
It makes a price action imminent and hence, we expect the pair to be bearish in the short-term.
The move could be attributed to a 5-wave pattern and it is now in corrective mode.
It has completed waves A and B is going to kickstart wave C.
The resistance zone around 0.93 handle proves to be a tough nut for the pair despite trying to take it down thrice.
It makes a price action imminent and hence, we expect the pair to be bearish in the short-term.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.