📈 Potential Start of an Uptrend
🧐 It appears the pair is gearing up for an upward movement, particularly after successfully breaking above the upper boundary of the price channel 📊. Analyses indicate a likelihood of forming new highs based on the following observations:
1. Formation of an impulsive Wave 1 as part of a bullish pattern.
2. A zigzag corrective wave represents Wave 2.
3. The breakout of the price channel supports a new upward movement, likely initiating the larger Wave 3 📈.
⚠️ If the price surpasses 0.53838, it would mark the initial target of this uptrend, with potential extensions reaching up to 100% of the length of Wave (1)/(A) in a higher degree.
Stay tuned for further updates as the pattern unfolds! 🚀