Nice, 10.From my quick glance from an EW/wave count perspective,...

Nice, 10.

From my quick glance from an EW/wave count perspective, I'd be looking at this as possibly entering wave 4 (down) of a small 5 wave impulsive move up.

Be interesting to see how the pair travels... and darn glad you popped up the daily there as is v interesting when looked at with my "stuff"

I reckon the last couple of months of uptrend could be conceivably read as a 5 wave impulsive move up from a low.

the MACD moving Averages gave a good trend change clue as marked by the red ellipses on price.

Should this indeed be a five wave up trend currently entering into the 4th wave (Down, generally protracted and corrective) then the location of the horizontal line is around the maximum drop allowed for this pair to continue to conform to EW type principles and should have at least some support there....

Note MACD histograms have formed three divergent peaks, oft a sign of impending down... but also of great importance, note that though we had a turn signal as marked by the ellipses on MAVS.. we have not had an Opposite turn signal on this time frame (despite the hourly EG giving one)...

So I reckon you might be bang on the money for some short action, however I dont personally think the pair is "in trouble" until that thin horizontal line of support fails.

;)