Monitoring GU moves to follow the red line keeping in mind the fundamentals still to come can change this outlook. Expecting sells to (C) Green taking out the lows and then some buying to (4) Highs which will consist of different waves. Will keep an eye on this pair and its moves
Price is forming a bullish diagonal pattern to complete WAVE 5. We see a 2019 GAP also played resistance in Dec 2019 where price dropped to the lows and took out buyers with a stop hunt wick labelled. Expecting (c) Wave to complete before we get more buying waves ABC all the way to WAVE (5) with a GAP filling
1 Month of buying price finally hit the highs before selling off heavily from fundamentals Expecting some buying maybe a small retracement but will keep an eye on its movement. We still have a gap between 73.494-73.671 where we saw the huge sell. WIll look for a buy zone and possible GAP filling Dec 2nd Chart - s3.tradingview.com
The long term buy is still in play. Now notice I did not share this since price was at the lows Its just like the AUDCHF long term setup - s3.tradingview.com / s3.tradingview.com s3.tradingview.com
Going for the Highs. We may see a pullback or price might just continue to the Highs Didnt see the strong sell as in the prev analysis as buying pressure was strong. Note this pair has been down trending since Mar 2019 so we should get some buying to take out some highs Nov12https://s3.tradingview.com/f/F76Qw3kT_mid.png
Long term target reached Nov11 s3.tradingview.com Nov15 s3.tradingview.com We can see the Lows taken out with a small move so expecting some sort of pullback. If the HIGH gets taken out we can see a change from SELL to BUY OR if price continues selling we can see moves targeting the LOWER Low labelled. This we will have to monitor