After the 5 waves moving down on the daily from 1 NOV 23 - 29 DEC 2023, we expected a move up for a 61.8 retracement. Unfortunately price missed 9 points from it and reacted going down while respecting the channel. After bouncing on the bottom of the channel the pair is now backing up and I expect for a continuation from the supply level and the 4H liquidity as illustrated from the chart.
Trade closed: target reached