The Trust Layer for Market Analysts

The analysis focuses on SUIUSD, tracking a potential five-wave move upwards with the support area around $3.00 holding. There's no evidence of a meaningful price top forming yet. The market has shown a three-wave move from the September low, which can be considered an uptrend. Structural confirmation of a bottom in wave two requires a five-wave move up. The chart indicates room for further downside, possibly down to $2.64-$2.94. One more low cannot be ruled out, even from a bullish point of view and, if bulls show up there may be another rally to the upside, a break above the upper boundary line of trend channel, to unlock prices in the $6-$8 range. Overall, SUIUSD is tracking a corrective pullback, awaiting confirmation of the next trend.