The analysis on the weekly timeframe (W1) shows that a pullback downwards has been worked out there, reaching approximately 0.48 Fibonacci level, just shy of reaching 0.50 Fibonacci. There is a signal of a temporary halt in the downward movement, but is the pullback complete? I don't have a definite answer to this question; based on emotions and the signal of a bullish takeover on this timeframe, I assume that the pullback is over. However, there are several signals indicating that the downward movement is not yet finished: 1. On the 2-minute chart, the last two candles formed a TS divergent Bollinger Band, which implies: a) a pause in the movement, b) a specific ritual, the completion of the second part of which will determine the signal for the further direction of the price movement. Currently, the price is around the 10-period Moving Average on the weekly timeframe at 1.3259, and since the PB divergent was not created according to strict rules, as the second candle almost completed the first part, it is unclear whether this TS will work or be ignored. 2. The bullish takeover signal does not rule out a new price return downwards, even with a breakout. Everything is still unclear, so it is necessary to wait for clarification next week.
