Strong bullish wave (a) ended at level 0.9375 after breaking downtrendline
then corrective bearish wave (b) rejected from 61.8% Fibonacci level at 0.9298 with bullish movement
Price is based above HVN at level 0.9335 which indicates that pair is in accumulation phase
Above SMA 100
MACD shows weakness in bearish momentum
RSI broke downtrendline
It's expected forming bullish wave (c) to target level 0.9420
then corrective bearish wave (b) rejected from 61.8% Fibonacci level at 0.9298 with bullish movement
Price is based above HVN at level 0.9335 which indicates that pair is in accumulation phase
Above SMA 100
MACD shows weakness in bearish momentum
RSI broke downtrendline
It's expected forming bullish wave (c) to target level 0.9420
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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.