If we look at the daily timeframe, we find that the five Elliott ascending waves are over and now we have to enter the ABC correction phase, or the zigzag pattern.
I consider an important line of support and resistance for this currency, which determines its trend. If the rectangle is broken, the downtrend and confirmation is DOUBLE - TOP and the drop to MA 200 daily is in the range of 0.06. If 0.2 is broken, confirm the new uptrend with new targets, which must have strong market conditions and news to be broken.
In terms of Ichimoku, the Chico Span line (green line) has entered the chart, which shows the trend in place, and the future cloud has thickened. The negative crossings of Tennenson and Kijonsen also confirm the downward trend of this currency. I think we should wait and not enter now.
I consider an important line of support and resistance for this currency, which determines its trend. If the rectangle is broken, the downtrend and confirmation is DOUBLE - TOP and the drop to MA 200 daily is in the range of 0.06. If 0.2 is broken, confirm the new uptrend with new targets, which must have strong market conditions and news to be broken.
In terms of Ichimoku, the Chico Span line (green line) has entered the chart, which shows the trend in place, and the future cloud has thickened. The negative crossings of Tennenson and Kijonsen also confirm the downward trend of this currency. I think we should wait and not enter now.