I updated the chart as structure changed from earlier pattern (see related). Double three W-X-Y extended the consolidation. I think crude oil (see related) will dip again so its natural that USDRUB will move higher for ruble weakness.
Large triangle could emerge to shape a huge consolidation. Last wave E down is in progress. The trick is that it could be over already as last wave within a triangle could be short. On the other hand it could retest the downside support to complete the pattern in the 650-700 area. This option coincide with my idea that oil and ruble will drop one more time. After...
This spike was a "dead cat bounce" in wave 4. The wave 4 could extend more to make double or triple three. The target based on the current top in wave 4 offers the target in wave 5 at $10. There is a 38.2% of wave 1-3 in wave 5.
It looks like we can see this pair revisiting sub-7 area to hit the downside of the channel around 6.82.
The Facebook will complete the large corrective structure to provide a buying opportunity. Wave C could hit between 128.60 (C=A) and 102.60 (C=1.272 x A). Then the move up should resume. I will update this chart with the daily graph with more labels.
The irregular flat could emerge here as wave B is beyond the start of wave A. The wave C could tag the former valley at $1307 to complete the correction.
This pair is in the wave 3 of C. The corrective wave 4 should be around before the last wave 5 up. The wave C should reach 30.70 to unfold the same distance as wave A.
The pair followed the world as DXY has crossed beyond the 100 and EM currencies couldn't resist global dollar demand. So, it's time to update the labels. We are in yellow wave Y already and it reached the equal distance of wave W. Potentially it could tag the former top at 7.0830 where Y will be equal to 1.618 of W. This will complete the wave X (white...
Previous ideas reached the targets (see related). But this pair didn't fully emerge therefore I expect it to retest the former top of Y2016 at 85.90. It will be wave 5. Wave 4 is unfolding now and it could be flat/zigzag or a triangle as in the larger degree preceding correction.
This pair hit the target set in my earlier post (see related). But it looks like it is not yet done. There is an ABC flat correction building on the chart and wave C down is pending. After that the move up could emerge to hit 80 - at that level the large second leg would hit 1.272 of the first leg up and 0.618 of the move preceding the current flat correction.
The wave X could be over then we could expect the wave Y to unfold to reach 3260. Or we will see the wave X extended then the wave Y will emerge later but the target would remain the same.
USDTRY could dip now into 5.45 area to complete small wave X (white label). Then the final move up with wave Y in larger degree X could emerge, which could tag former top of 7.0830. After that the large Y to unfold down to retest the bottom of the entire consolidation at 5.1300
There is a map of a consolidation for US 10-year yield. The range is quite volatile between 1.50 and 2.00. The wave B should complete with a drop to the 1.50 and then wave C could unfold up to 2.00. After that the drop should resume to retest 1.34.
All minimum downside targets were reached as wave Y of (B) tagged former low and it is longer than wave W. See related chart about drop. Almost perfect flat has been built in wave (B). I think the wave (C) could emerge now. Buy trigger is above the recent top of $52.20 (C)=(A) target is located at $73.50 - huge gain. Besides that (C) could tag the former top of...
I expect the reversal soon as strong bullish divergence has been accumualted on MACD and the price almost reached the trendline support, which was awaited earlier (see related chart). The wave Y (yellow) could rocket to the RUB 76 area where Y=W. It will be a huge devaluation.
The minor pullback is expected to follow this quick and huge drop. After that another leg down to follow to finish the whole WXY sideways correction. Y should tag the former low of W at 50.60 at least.
62.50 is where the 1.272x in y (white) 64.50 = 1.618 of x in y (white)
One more up and one more down are pending