This pair made some very messy moves since bottoming out last year. Now with more time, we are able to see its development in a clearer way. Everyone has an opinion on the direction of this pair, yet so far this chart is telling us it is going sideway for at least a while. Let's see how it develops over the next few days and weeks. Happy trading all.
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This pair is now more likely to be in a 3 wave corrective structure than a 5. I expect great volatility over the next couple of weeks that eventually lead to a final Z wave impulse to end this move. USD bears may want to be very careful very soon.