Price lost bullish momentum around 1.0, tried to come back but failed and is now in the formation of the right shoulder of the corrective A wave.... I used the Elliot wave pattern to better understand what price is doing here and to express my belief perspective of weakening in price.
Not only did price face rejection near a key psych level of 1.0, but it is also in confluence with a macro 61.8 retracement and then a micro 61.8 as the corrective wave begins to paint. TP is based off fib extension levels and key market structure.
Not only did price face rejection near a key psych level of 1.0, but it is also in confluence with a macro 61.8 retracement and then a micro 61.8 as the corrective wave begins to paint. TP is based off fib extension levels and key market structure.