Elliott waves analysis – We are on the sideline.


Wave Analysis:

This pair has been rallying within the upper and the lower trendline for sometimes now, recently the price bounced off from the corrective wave cycle four towards the lower side in continuation of the impulsive wave cycle five. Right now the price is around the upper trendline, if you are looking at this pair right now, wait for a clear break below the lower trendline or above the upper trendline then pick a buy or sell according to the prices direction.

Trade Recommendations:

We are on the sideline.

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