BROKEN CHANNEL SUPPORT + WAVE ANALYSIS

This symbol has been trading in a channel since March 2023 till date. The support of the channel has been broken. Further the pair has been gradually trending down in the channel in a wave-like fashion, and the price seem to have completed wave 1, and formed an a-b-c (double-top) correction as wave 2, and wave 3 down seem to just about have started. If this hypothesis is correct, I expect price to complete wave 3 at a price of about 1.2280 near term.


If you like this analysis or they are helpful to you in anyway, please like and follow me.