We see this channel being formed and respected multiple times by this pair. We are looking at a big move down in the next week or so. This is the last Elliot wave in the pattern so we might see a little funny price movement but overall solid. Another inclination that this pair is moving to the downside about 250 pips is at our entry was the 61.8 entrancement zone. This is a great risk to reward ratio.
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Trade at your own risk and use proper risk management.