Short-term (h4 and h1):
The corrective cycle in wave 4 has hit 38%Fibo of the last swing and sharply reversed. The corrective cycle was a pattern of abc irregular flat, where wave c=161% of wave a. Now the impulsive decline is almost done and after the corrective cycle in wave ii this pair might continue the downtrend. Please notice this pair might be making a Head&Shoulders formation as well and that supports the view for more decline coming.
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