Hello Traders
Pattern is creating a contracting triangle. After the price pass the 61.8% retracement level at 1.26856 we could be sure that the pattern is not a zigzag. The triangle is the y-wave as a double/triple combination. whether the future pattern is an x-wave of triple combination or start a new wave in the larger degree, we have a bullish trend. I put the target at the 1.27912 level, but there is a small chance that price won't reach to this level if we are facing the second x-wave.
Please remember to like, if you are agreed with the idea. Good luck
Pattern is creating a contracting triangle. After the price pass the 61.8% retracement level at 1.26856 we could be sure that the pattern is not a zigzag. The triangle is the y-wave as a double/triple combination. whether the future pattern is an x-wave of triple combination or start a new wave in the larger degree, we have a bullish trend. I put the target at the 1.27912 level, but there is a small chance that price won't reach to this level if we are facing the second x-wave.
Please remember to like, if you are agreed with the idea. Good luck