Strong bearish wave (A) ended at level 1.2718 after breaking key level at 1.2880
Then corrective bullish wave (B) is rejected from downtrendline and 61.8% Fibonacci level of preceding bearish wave (A) at level 1.2900
MACD shows weakness in bullish momentum
Price is based below HVN at level 1.2998 which indicates that pair is in distribution phase
RSI reached overbought region
It's expected for coming strong bearish wave (C) to target level 1.2650
Then corrective bullish wave (B) is rejected from downtrendline and 61.8% Fibonacci level of preceding bearish wave (A) at level 1.2900
MACD shows weakness in bullish momentum
Price is based below HVN at level 1.2998 which indicates that pair is in distribution phase
RSI reached overbought region
It's expected for coming strong bearish wave (C) to target level 1.2650
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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.