Wave 4 in progress. It has already touched Fib 38.2 level and Stochastics, MACD are showing signs of its retracement to complete wave 5.
SL: the previous support turned resistance level (1.26106)
TP: Slightly beyond the wave 3 termination level (1.25293).
This is my opinion only. You may need to workout your own analysis to enter the
I am expecting a triangular correction until the end of next week. Look at the wave count, support and resistance levels, Brexit no confidence motion and US politics.
In my opinion it seems less likely to be an impulsive wave, as wave 4 seems to have crossed the priceline of Wave 1. Hence, I am of the opinion that it is a Zigzag correction (continuation of the correction process).
Let me know if you have other thoughts..
