Hi All,
Interesting week so far with USD finally showing weakness as I have been predicting. I am expecting a final USD fighting back for the next few weeks as summarised below.
Forecast for next week:
Starting from the low at 1.03411
Wave 1: Leading Diagonal impulse move to the upside
Wave 2: This move is still unfinished but wave A and B looks complete.
Wave A is a double ZZ combo (WXY), Wave B looks like a complex Flat which retraced at 78.6% of Wave A.
Forecast wave: I am anticipating a final wave C short to retest the 61.8% retracement of wave 1 to make a slight new low before EUR Bull return for a long while.
Interesting times ahead guys but for now, I am looking for a short entry
Happy Trading all and feel free to comment / ask questions.
Cheers
Don
Interesting week so far with USD finally showing weakness as I have been predicting. I am expecting a final USD fighting back for the next few weeks as summarised below.
Forecast for next week:
Starting from the low at 1.03411
Wave 1: Leading Diagonal impulse move to the upside
Wave 2: This move is still unfinished but wave A and B looks complete.
Wave A is a double ZZ combo (WXY), Wave B looks like a complex Flat which retraced at 78.6% of Wave A.
Forecast wave: I am anticipating a final wave C short to retest the 61.8% retracement of wave 1 to make a slight new low before EUR Bull return for a long while.
Interesting times ahead guys but for now, I am looking for a short entry
Happy Trading all and feel free to comment / ask questions.
Cheers
Don
Note
Correction: I had the flat A and B in the wrong placement but the overall idea remains the same - please see the update below.
Note
Update:It is looking like EUR is losing steam and is ready for the move downside as per my flat corrective count.
Please see the count update for your reference.
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Related publications
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.