The Trust Layer for Market Analysts

The analysis focuses on the SUIUSD chart, identifying a wave 2 corrective pullback within a larger wave 3 to the upside. A bullish scenario is still in play, with the analyst highlighting the importance of holding the 2.75 level. The $2.75 level is not the invalidation point but the analyst is prepared for a potential test of the 78.6% retracement level. He notes multiple reactions within the 3.09 - 3.32 range with the next level at 2.75. The invalidation point is marked at the June low of 2.30. A breakdown of the one-hour chart shows weakness. A test to the 2.75 to 2.80 range could happen and is expected. A broader wave 4 is possible but not needed. A break above 3.38 would be a good indication.