(Click at the picture to enlarge)We can count a clear five down move since the 89.62 top on March 4'th, so no doubt that a bottom is close, but do we need a move closer to the 74.45 - 74.57 area to complete wave v of C of [B] ?
If we do need one more move down, there is plenty of evindece to why the 74.45 - 74.57 area should be the end target area for wave 5 of C.
* At 74.45 wave [B] will be 78.6% of wave [A]
* At 74.48 wave 5 of C will be equal to wave 1 of C
* At 74.57 wave 5 of C will be 61.8% of wave 1 through wave 3 of C
So buying just in front of the 74.45 - 74.57 area will represent a very low risk oppotunity.
Even at the current level (76.02) we are just 2% above this very strong support area will in my eyes pose a low risk oppotunity. Risk/reward are excellente possing a 2;5.87 risk/reward if the USD Index only rally to 80.48 from here.
Judge yourself...
