the pair has finally broken upward from the consolidation zone
. I need 1.6450+ to add to a short. this action may finally get us there.
Trade active
This whole complex from Jan 3 on is a 74% retracement of the 1.6795 hi set Jan. 2. Last week we had a hi that reached 1.6122. That may have been wave C. It seems low, but the price should hit 1.5048 if 1.6122 was the hi. That makes the target 1.5048. Will wait till EU finishes up its move down and see if we're getting any higher highs. If not I'll add from around here.Trade active
The target above is not accurate. The proper calculation here puts D where C is and the target becomes 1.4674.Trade active
Wkly with corrections for target. Note that D may not be confirmed yet. The action Fri with the eu was unusually large and may continue this coming week. That is eu is currently exceeding its ATR by 2—3 times. Eu is near the end of a big move down and will, no doubt retrace. That retracement may well send this higher (provided A isn't going up faster (which is generally the case). In short, looks like Thurs. was the entry and I missed it. Will wait a few days and see how this plays out. Still looking to add to a shot. Trade active
Forget the above. This may still be going higher, much higher. The support battle going on right now (see the arrow pointing from current close back to previous area it took off from) will determine whether this goes up or down from here. My bias is up. Target is up over 1.69. Will play this by ear. Down: I wait for an entry to short. Up: I wait for the next reversal/top to add to a short. 1.64+ is the goal for an add.Trade active
This is easy to miss. The action is off the screen without time compressed some. This level has played a key role since early February at least. 1.7169 is the calculated high. 1.4674 is the calculated downside target. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.