(Click on the picture to enlarge)My worries from yesterday regarding the lack of followthough to the downside was well founded. The break above 144.04 and more importantly 144.46 tells us, that the US-dollar hasn't bottomed yet. Wave 5 can best be described as an Ending Diagonal with a final target in the 145.18 - 146.17 area. Where 146.17 reprecents the 61.8% retacement of the fall from 160.38 to 123.28.
When this wave 5 of (B) ends we should see a powerfull move to the downside bigger than any of the previous corrections in wave 5, meaning that it should be bigger that 4.02 figures, which confirms that wave 5 has ended and a move down to the bottom of wave 4 at 137.47 should at least be seen.
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