The correction I was looking for after the test of 72.70 is working nicely and yesterday we saw the first daily close below the wave II-IV channel support line adding more downside pressure. Longer term I'm still looking for a minimum correction towards the 38.2% corrective target at 51.64, but I think it's more likely that we will see a continuation lower towards the 50% corrective target at 45.13, which also marks the bottom of wave IV of one lessor degree.
Short term we have finished four wave of wave A of a zig-zag correction. The ideal target for wave v will be at 54.78 and once in place should be followed by a three wave rise towards 63.80 and maybe even 65.91, but only time will show.
Not to change the subject but .... both USD/Euro and USD/JPY seen to have invalided your most recent count. Could you please update them soon?
ReplyDeleteHi Joseph,
DeleteThey are updated. Sorry for not updating them sooner.
Kind regards
EWS
Excellent analysis. Currently FB in B wave and I think it still has some upside before downside to 45.
ReplyDeletePlease update targets
Thx
Hi KKandru.
DeleteI think we will see wave B towards the 63.62 - 63.90 area before wave C lower towards 45.13.
Kind regards
EWS