The chart combines multiple technical analysis methods, including Elliott Wave Theory, Harmonic Patterns, and Fibonacci retracement levels, to provide a comprehensive analysis.
The Gartley pattern is a bullish reversal pattern, indicating that the price might increase from the current level around 1.02, especially if it confirms the D point and the 0.618 retracement level.
The corrective wave (A) (B) (C) aligns with typical Elliott Wave theory, suggesting the price might now seek a new impulse wave if it follows the typical wave pattern behavior.
The significant Fibonacci retracement levels, particularly the 0.618 level, add further validation to the potential reversal zone indicated by the harmonic pattern.
-If the Gartley pattern and Fibonacci retracement levels hold, it indicates a potential bullish reversal from the current levels.
The Gartley pattern is a bullish reversal pattern, indicating that the price might increase from the current level around 1.02, especially if it confirms the D point and the 0.618 retracement level.
The corrective wave (A) (B) (C) aligns with typical Elliott Wave theory, suggesting the price might now seek a new impulse wave if it follows the typical wave pattern behavior.
The significant Fibonacci retracement levels, particularly the 0.618 level, add further validation to the potential reversal zone indicated by the harmonic pattern.
-If the Gartley pattern and Fibonacci retracement levels hold, it indicates a potential bullish reversal from the current levels.