EUR/USD only reached 145.32 before break down below 144.34. We can count a five wave rally from 140.09 to 145.32 and therefor could have seen wave 3. As long as we don't break below 142.81 I will keep this as wave 3 and wave 4 should ideally be some kinde of flat correction not move much below 143.19 (It should also pose a low-risk buying area, with a stop at 142.80).I still look for a move higher towards at least 145.90 but more likely 147.52 and even 150.19 if wave 5 extends.
Gold reached a slight new high at 1,628. As long as support at 1,607.79 isn't broken clearly to the downside I will be looking for a move higher towards 1,636 as the final target for wave 5. From 1,636 or upon a clear brek below 1,607.79 I would look for a test of important support at 1,581, which if broken will point lower towards 1,478.
Crude oil- The deep decline below 97.79 has forced me to give up on the triangle wave-b count. A more possible count is, that we are in and ending diagonal, which could reach 102.09 with a very slight chance of continuing higher towards 105.54 before topping out and turning down in wave [C].
No comments:
Post a Comment