The pair has declined over the previous period and reached important levels, and the pair has shown a bottom formation to rely on and bounce from.
The indicators show a clear reversal of the trend, and the Forex trade time analyst team has confirmed these indicators to indicate a countertrend rebound for the pair.
We see on the daily Fibonacci that the price has reached the 50% level, but it has not been able to break this level, which gives us a signal of reversal.
On the 4-hour timeframe, we see the price has reached a level where the price is currently trying to break the 68 level, and it may succeed due to the bullish pressure and the weakness of the bears.
We also see on both the daily and 4-hour timeframes that the Japanese candlesticks have formed clear bullish patterns, which confirms the analysis of the pair that the rise is very imminent.
We also see that the RSI indicator and the MACD indicator on the different timeframes give a bullish signal.
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