Monthly: A five wave bearish pattern was completed at 1046 (Elliott Wave formation). We are now assessed as being in the corrective bullish channel formation. Expect trading to remain mixed and volatile while we hold within the Ichimoku Cloud.
Weekly: The trend of higher low sat 1239 has held back the bears this week. We are potentially forming a bullish ascending triangle pattern. A break of 1375 is needed to confirm
Daily: Possibly forming an Ending Wedge pattern. A break of lower highs (at 1292) and the measured move target is 1364. Yesterday’s price action posted a bullish Outside Day, often an indication that the selloff has come to an end. The 200 Day Moving Average is located at 1302
Intraday (one-hour) – With bespoke resistance located at 1262 and a possible 5 wave pattern completion soon (Elliott Wave) we only look to buy into dips. Bespoke support is located at 1252
![Credit Card 160×600 [EN]](https://assets.iorbex.com/blog/wp-content/uploads/2023/06/13144507/Blog-Banner_EN-Banner_160X600X2.webp)
