Today's Support and Resistance Levels:
R3: 142.41
R2: 141.87
R1: 141.26
Current Spot: 140.57
S1: 140.26
S2: 139.95
S3: 139.49
Technical Summary:
After a small correction towards 140.26 we should see more upside Price action towards the ideal target at 142.41 to finish the x-wave and setting the stage for the next decline lower towards 126.03 as the ideal corrective target for the impulsive rally from 94.10 to 145.69.
Today's Support and Resistance Levels:
R3: 1.6663
R2: 1.6620
R1: 1.6567
Current Spot: 1.6539
S1: 1.6514
S2: 1.6484
S3: 1.6454
Technical Summary:
Wave iii did end just 10 small pips before the ideal extension target at 1.6630. I'm now looking for a small wave iv correction towards the 1.6485 - 1.6514 area before the next impulsive rally higher towards the target for wave 1 at 1.6745. My larger picture shows that we ended a major X-wave triangle at 1.6253 and a new impulsive rally higher to above 1.6996 and more importantly above 1.7274 is developing.
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