According to my previous idea this pair is forming a potential head and shoulders pattern on D1 chart:
Here on H4 chart we can see my closer view accordint to my EW count, i think the las rally is a correction labeled abc blue
The correction is finishing right at the D1 resistance.
The confirmation would be the broken trendline. I will enter short now expecting a long term decline. We see also a bearish divergence on MACD showing the last impulse is finished.
Best regards.
Here on H4 chart we can see my closer view accordint to my EW count, i think the las rally is a correction labeled abc blue
The correction is finishing right at the D1 resistance.
The confirmation would be the broken trendline. I will enter short now expecting a long term decline. We see also a bearish divergence on MACD showing the last impulse is finished.
Best regards.