As we can see, I will be expecting the elliot wave movement to end soon with possible retracement movement. If we look into the price movement, we can see price moving up slightly to a potential resistance area (red area) where I will expect to see a nice rejection off there. As for retracement level, I will seeing it moving towards 1.0795 level where there is a rather strong support level with a nice 50.0 fib retracement if it moves toward that area. As of now, I will be looking for a BEARISH movement for this pair with possible retracement waves taking over.
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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.