The “W-bottom” pattern is confirmed, and the medium-term trend is improving:
Looking at the overall trend, after reaching a previous high of 1.3220, the price underwent a prolonged decline before finally stabilizing around 0.6076.
A subsequent rally pushed the price above the short- and medium-term moving averages, forming a very clear “W-bottom” (double-bottom) pattern. This signals that the medium- to long-term downtrend has been reversed, with the market’s center of gravity continuing to move higher.$FIL
Looking at the overall trend, after reaching a previous high of 1.3220, the price underwent a prolonged decline before finally stabilizing around 0.6076.
A subsequent rally pushed the price above the short- and medium-term moving averages, forming a very clear “W-bottom” (double-bottom) pattern. This signals that the medium- to long-term downtrend has been reversed, with the market’s center of gravity continuing to move higher.$FIL