In the weekly chart, the structure of the waves consists of 3 waves, which indicates the Ending Diagonal pattern, by checking the MACD and the type of reversing candlesticks, wave 4 of this pattern is probably completed in the range of 1.3482.
in the daily chart the structure of wave 4, which is in the form of 3 waves, and divergence in MACD both indicating the return of the price (price decrease). In order to confirm the downtrend, the price needs to cross the range of 1.2060 with 5 downtrend waves, the range of 1.3045 can also give better confirmation.
In the 240-minute chart, the C-wave structure has been drawn from point 4, breaking the downtrend line is enough to confirm the downtrend.
in the daily chart the structure of wave 4, which is in the form of 3 waves, and divergence in MACD both indicating the return of the price (price decrease). In order to confirm the downtrend, the price needs to cross the range of 1.2060 with 5 downtrend waves, the range of 1.3045 can also give better confirmation.
In the 240-minute chart, the C-wave structure has been drawn from point 4, breaking the downtrend line is enough to confirm the downtrend.
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Please see the second scenario for this currency in the following link
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Wave 5 of C unfolding
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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.