On the monthly chart, we see the 1.0000 level reached and a consecutive impulsive wave (1) on the 2015 rally, breaking the selling structure since 2012 by reaching liquidity void above 1.13000.
Since then price is trading at a corrective wave (2), rejecting to make new lows, so expecting a new ipulsive wave (3), possibly a 3th Elliot wave, maybe reaching 1.15000 levels and higher.
Plus, the price is trading into a bullish order block (blue area) which produced the 2015 bottom. Same pattern occurred on the weekly and could happen on the daily soon. Let's watch.
Since then price is trading at a corrective wave (2), rejecting to make new lows, so expecting a new ipulsive wave (3), possibly a 3th Elliot wave, maybe reaching 1.15000 levels and higher.
Plus, the price is trading into a bullish order block (blue area) which produced the 2015 bottom. Same pattern occurred on the weekly and could happen on the daily soon. Let's watch.
Trade active:
Price going up moving as expected, we're in and watching daily for pullbacks.
