With the momentum indicator slowing but still positive and a large gap between the 15 SMA and 5 EMA lines as well as the MACD lines, there is still bullishness in this pair. That's why I think this mini Elliott Wave pattern might come true. If all comes to fruition, a BUY at the end of wave 4 would be the trade to look for.
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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.