$ELA is slowly curling up after touching lows of $1.16. It’s now trading at $1.38, up +4.7%.
The short-term MAs are flattening and starting to converge, which hints at an upcoming breakout if bulls hold. A push above $1.42 would likely test the $1.6 region.
Risk is back under $1.30, where it needs to keep making higher lows to stay in this recovery phase.