As you can see on the 15m chart below, there’s a downward five-wave price movement, which is supposed to be wave 1. The 200 Smoothed Moving Average has been broken, so an upward correction is likely underway. If so, the pair should continue developing wave ((a)) in the next couple of days.
Get 30 Days FREE Trial
Professionally done-for-you daily Elliott Wave analysis.
Instant access - no credit card required