This pair has broken its descending channel
in the 1-hour time frame on 10-9 and is now experiencing a mild selling pressure which we think is a minor correction. The true test of the bullish
power is when the prices reaches the stiff resistance area
shown on the chart. In that zone, a bearish
and a bearish Shark
completes which will exert decent selling pressure on this pair.
If bulls manage to break that area after a healthy pullback, the stage will be set for a decent +300 pips rally.
Cyclical Waves Group