Support at 1.3462 will ideally protect the downside for a break above 1.3598 which confirms continuation higher towards 1.3711 and a break here confirms a rally higher towards at least 1.4247.
Break below 1.3462 will delay the potential upside for a move closer to the neckline support near 1.3375
We will ideally see a break below important support at 1.5886 soon for a continuation towards at least 1.5425 as the final wave E of the major triangle is developing. However, we have to be aware, that E-waves can be sub-normal, which means it could end early for a rally above 1.6260 and confirm the thrust out of the triangle, but that is less unlikely in my view.
Short term only a break above 1.6057 will delay the downside for a move closer to 1.6124 before Down Again.
Ideally we will soon see a break above 99.67 and more importantly a break above 100.61 confirming that the thrust out of the red wave iv triangle is developing for a rally towards at least 107.22 and more likely even higher towards 110.49.
Short term only a break below 97.98 will delay the potential upside rally.
You are the master!!!!thanks!
ReplyDeleteHi Zink,
DeleteYou are most welcome
Kind regards
EWS
Hi EWS,
ReplyDeletewhat is with your NZDUSD (& Gold) count?
Do you have a new analysis?
thx
Hi Paulina,
DeleteI hope I will have time to update the two tomorrow morning, but if I promis I will update them during the weekend.
Kind regards
EWS
Great call on IBM
ReplyDeleteHi John,
DeleteThank you very much.
Kind regards
EWS
Hello EWS,
ReplyDeleteIf it is possible make an update count for the GBP/USD as we break the 1.6125 today.So from here we aim for 1.63 to 1.65 and then to 1.55?Or we go down to 1.55 from the current levels?
Thanks in advance,
Panos
Hi Panos,
DeleteAs I said yesterday E-waves of triangles can be sub-normal, but if the decline from 1.6260 Down to 1.5894 I would be very surprised.
I believe the rally of 1.5894 is an x-wave and more downside action is needed and that we will likely see a top near 1.6255 or if this becomes an expanded flat correction near 1.6321 before a new decline lower towards at least 1.5894 Again.
Kind regards
EWS
Thank you EWS for your quick reply.Wish you a great weekend ;)
ReplyDelete