The rally of the 1.0488 low just need one more rally above 1.0946 to confirm that a five wave impulsive rally has bee seen and confirm that the trend has changed. The fact that we already has broken the top of wave iv of one lessor degree at 1.0919 also add confidence in my view that an important low is in place.
Short term I will be looking for wave v at 1.0979 and maybe even higher towards 1.1047 to mark wave 1 and set the stage for a correction lower in wave 2.
Longer term I'm looking for rally towards 1.1577 as the first major target.
Hi there,
ReplyDeleteWe made a high of 1.09486 and its been heading downward since. Are we on a correction lower before heading higher again or the downtrend continues?