Price is currently sitting on the 50 weekly moving average. I expect a pull back to about 0.7590 - 0.7618 zone (annotated selling point on the chart) before selling off to 0.7240 (200 weekly moving average) to complete the double top formation at point C. At this point, if price pull back to point D (emphasis on if), this may confirm the truncated fifth wave, and based on the market conditions, we could head all the way down to 0.5690.
I know this is quite a long shot so watch out for updates on this chart.
If you like the analysis, please like, comment, and follow me. It will encourage me to learn more and post more quality analysis. Constructive criticism is also welcomed.
Disclaimer: This is not a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me
I know this is quite a long shot so watch out for updates on this chart.
If you like the analysis, please like, comment, and follow me. It will encourage me to learn more and post more quality analysis. Constructive criticism is also welcomed.
Disclaimer: This is not a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me