Let's count waves. Do you see the same potential upside for this pair?
I am a beginner in Elliott Wave Analysis and this is my sentiment.
The minor impulsive wave in RED has been completed and corrected via an ABC structure with 5-3-5 sub-waves. The parallel lines connecting the end of wave B and the end of wave A usually forecast the end of wave C as shown. Price is currently at a key level marked in the red rectangle which has shown to be resistance and in the past was support level. Finally, the RSI indicator is currently at 31.20 as I type this and signifies that the price is oversold. Comments, critiques, and anything else is accepted.