Look like the falling wedge(correction) is going to end. Very good time to buy now and keep for long term.
Looking at the Monthly charts and where this Pair may go I have mapped a possible cypher pattern, We have had the X to A and A to B legs form. Point C would be in line with previous area of ressiatance and Point D also falls in place with previous support
I say Possible as over the last week or so on several occasions I felt we were formign a double bottom only to push futher lower. Yesterdays cande does have a longer wick which rejected a close lower so wills ee if we see a push higher.
I have been watching the 4hr and Daily Time frames and felt that we had reached the bottom, the pair has pushed a bit further lower as we can see with the wick on this weeks candle If the cande doesn't close outside of this box I feel we could see a reversal in the coming weeks
If the Daily candle doesnt close lower I feel we will see a rise from these levels. Previous area of Support and has risen from here before