EUR/USD - I have changed my count as the decline from 1.3071 has become to big and the rally from 1.2804 does look like a three wave rally, so what is going on here? We could still see a deeper decline in wave 4, but i think the possibility of a big wave 4 triangle building is a better fit and that will be my working count until disproved.
We have seen the first three waves of the triangle and "only" needs two more (wave D and E). I expect wave D to move higher towards 1.2990 or just above here before the last E-leg should be seen.
EUR/JPY - Has mirrored EUR/USD and the best fit for wave 4 has changed to a triangle too. Here too we are missing the last two legs of the triangle before we will see the final rally higher in wave 5.We should at least see a rally to 101.84 in wave D and likely even a bit higher before the last leg of the triangle sets in.
EUR/NZD - Has reached its ideal target and we should soon see a rally higher. I will still be looking for a break above 1.5832 as the first good indication that wave ii is over and the powerful wave iii of 3 is under way. I will expect support at 1.5739 to protect the downside for the rally above resistance at 1.5832.
Gold - Is building a minor sideways consolidation before the next rally higher will be seen. The coming rally should at least reach 2,158.84, but it would likely be prudent to expect an extension higher towards 2,550.59 and even 3,184.70 should not be ruled out in a possible moonshot.
Crude Oil - It didn't take long before the possible series of waves one's and two's was invalidated, which opens up for a move slightly higher towards 95.05 and maybe even 96.00 before the next decline will be seen.
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