This pair is most probably in a C wave of an ABC corrective structure which is carving out in a bearish Bat pattern. In the shown area, an Inverted AB=CD pattern also completes which adds to the selling pressure which might arise in that area.
We expect that after a pullback within the 4th wave of the C wave of the final C wave, price will ultimately reach that zone wherein we will expect the bears to return in full force.
Good luck,
Cyclical Waves Group
We expect that after a pullback within the 4th wave of the C wave of the final C wave, price will ultimately reach that zone wherein we will expect the bears to return in full force.
Good luck,
Cyclical Waves Group
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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.