Following on from my earlier chart on short term view, we have topped in rising wedge and have broken down from that. Now it seems we have dropped in falling wedge or possibly leading diagonal, which is being retraced in (a, b, c, zizgzag) at present. On completion we could have low risk shorting opportunity around 1.3080 -1.31 area. Slightly further out overall decline target is around 1.2950 - 1.2920. But you can have initial target of 1.30 area
Hi thank you for viewing my chart and posting your observation. You could be right. However from the low of 1.2660, I seem to make 5 waves move up ending in rising wedge ie Ending Diagonal. So now I am expecting some retracement of the move. The could take place in possible A, B, C zigzag down and current minor move on smaller time frame is just a start I think. Check my earlier chart with view on larger time frame.