Within the uptrend since 25.07 we have now reached a consolidation Phase in form of a shortterm downtrend (red counting) . Within this trend, a is be formed.
The will reach in the best technical case up to the downtrends edge @ 1. 1312 . Here is an Action Point!
A break through that could initiate a shortterm downwave to 1.1230 / 1.1215. Here a new green "3" could be formed = next Action Point!
Trading below that Level would attack the midterm uptrend. If this trend breakes, the tp could be the former low @ 1.115
Breaking the shortterm downtrend on the upside means aiming the resistance at 1.135-1.1365. Above that Level, the next bigger tp could be the uptrends upper edge at 1.145
Comments are Welcome - Agree or Disagree