EUR/USD - We are just about to break below the support-line from the 1.2044 low. If we break clearly below here I will change my count to show a wave A peak at 1.3172 instead of blue wave 3.
The ongoing correction from 1.3172 could also turn into a B-wave Triangle instead of the flat correction I mentioned yesterday, but no matter, which corrective wave pattern is the right one, we need more time.
GBP/USD - Is back at the resistance-line from the 1.6310 to confirm, that the correction is over and the next upswing is under way. A clear break above 1.6144 and more importantly 1.6178 will confirm that the correction from 1.6310 is over and a new rally higher towards 1.6618 and 1.6744 is under way.
EUR/JPY - The c-leg of the expanded flat correction from 103.28 became a little bigger than expected. Wave c became 2.618 time wave a, which is a bit unusual, but not that rare. However, the expanded flat tells us, that we should expect an extended wave iii. I would look for an extension of at least 2 times wave i, which should target 101.75. The target for this correction is at 99.35.
EUR/NZD - We are about ready to see the final move down in red wave v towards the 1.5635 - 1.5652 area, which will end the expanding flat correction from the 1.5967 peak and call for an extended rally in wave 3 to at least 1.6481, but likely higher.
Hello Ews !
ReplyDeleteeur/usd
I agree about making it ABC instead im^pulse count.
This last phase seems a falling-ending diagonal
As its less than 38.2% correction and shallowness of B wave's red candles suggest wave C could be violence in up-side..
On another side I am seeing CCI-55 divergence for down-side in weekly chart..
This reminds me the start of that expanding diagonal as wave C in this wave A.
Anyways
Lets see how it goes for UP for wave C. An impulse or a diagonal !