It has been taken a whole month for DXY consolidate around 94-95. and the EURUSD is also consolidate 1.1500-1.1850. Today in early European session, EUR/USD take 15 min to rally 25 pips. it seems to me that the Wave 5 for the Wave a is done. the previous idea talking about wave a finished may need to amend and the failure 5 is the end point of wave a. so we should head for a retreat of USD and rally of EURUSD and targeting 1.1850 or above. the assumption for failure 5 to hold, 1.15 should not be broken. so we could put stop @ 1.15.
Comment:
because the tension between USA and Turkey, the LIra drop like a rock. and the external debt is arounf 40% of the total debt. means the external debt increase in the speed of light. data from BIS showed that Spanish banks are due 83,3 billion, French is 38.4 billion. and Italy is 17 billion. so the next target is 1.12 so the previous platform is becoming resistance.
