Today the Pair reached the MoB again. My former Analysis is still valid!
PAIR @ its Make or Break Level
The shs didn`t appear. The Pair reached a very interesting Level @ 0,6545: This is corresponding to the last LOW ("2") and the DIP at the 17.12.2014. This should be a MoB-Level. Trading below that Level means a strong shortsignal with target @ 0,6445/ 0,6320.
Thios Level should be a shortterm suppot so i exspect a pullback move to ist 38,2 fibo at 0,6633.
former Analysis: Will the possible shs break the downtrend?
If we have a "cyclical swing-view", the next wave should be a downwave.
Trading above the last valid "3" generates a shortterm-buyinig-Signal.
If the shortterm uptrend will break at the actual Level and makes a "maximal" correction to the 0,618 fibo, a right shoulder can be formed. This is then the Level to watch. Every Price below this Level @ 0,6635 would generate shortsignals with TP1:_ 0,6535 TP2: 0,64