Bullish wave (a) ended at level 1.2298
then corrective bearish wave (b) rejected from 61.8% Fibonacci level of preceding bullish wave
After that price broke major downtrendline
Price is above HVN at level 1.2192 which indicates that pair is in accumulation phase
Above SMA 100 on H1 frame
MACD shows bullish momentum
It's expected for coming bullish wave (c) to target key level at 1.2470
then corrective bearish wave (b) rejected from 61.8% Fibonacci level of preceding bullish wave
After that price broke major downtrendline
Price is above HVN at level 1.2192 which indicates that pair is in accumulation phase
Above SMA 100 on H1 frame
MACD shows bullish momentum
It's expected for coming bullish wave (c) to target key level at 1.2470