In the LONG run, there's a big chance that the pair will continue its bullish trend until the "magnet zone" created by the W1 and D1 fibonacci's retracements (around 0.87600), and higher areas.
However, it looks like it's finishing its triple cycle and the impulsive wave. There's a divergence in D1, which might lead last wave 5 to the "magnet zone" at 0.82300 area (0.61% fibo) and after that, begin the corrective cycle, which might be in 2 or 3 waves.
This view is supported by a divergence on MACD and also RSI and stochastic negativity.
However, it looks like it's finishing its triple cycle and the impulsive wave. There's a divergence in D1, which might lead last wave 5 to the "magnet zone" at 0.82300 area (0.61% fibo) and after that, begin the corrective cycle, which might be in 2 or 3 waves.
This view is supported by a divergence on MACD and also RSI and stochastic negativity.
Comment:
Extended wave 4.
Comment:
Expecting shorter wave 5.