We observe on the chart that the pair has a downward impulse, but is currently being adjusted. Looking at our technical indicators, we see selling signals and we believe that the correction will be completed soon.
Based on the Elliot wave theory, we are expecting a new downward wave and extended our support level at the 1.2785 mark. We expect that the price will soon reach this mark. Therefore, we advise you to take short positions in the pair and set your take profit near the above mentioned level.
Based on the Elliot wave theory, we are expecting a new downward wave and extended our support level at the 1.2785 mark. We expect that the price will soon reach this mark. Therefore, we advise you to take short positions in the pair and set your take profit near the above mentioned level.