Weekly chart:
Weekly chart implies that wave 3 of a 3 wave move is in progress. Wave 1 and Wave 3 of 3 wave move are highlighted in boxes.
Wave 1 of 3 in purple box have an internal 3 wave movement and accordingly, wave 3 of 3 in blue box is also expected to have 3 wave movement.
Daily chart: Analysis of Wave 3 of 3 in blue box
Wave A has an internal 5 wave impulsive movement, and accordingly Wave C is expected to have 5 waves in impulsive movement.
In wave C, 4 waves out of 5 are over.
Wave 5 is targeting 106.0 - 106.5.
As the C wave in daily chart is moving in an ending diagonal pattern. The 3 waves in wave 5 might or might not be visible in daily chart due to exhaustion, hence 4H chart can help better in identification of waves.
4H chart: Analysis of wave 5
After a perfect zigzag to the upside, the trend is under correction which is expected to end at 101.7.
Upon completion of correction, another perfect zigzag to end wave 5 is expected. This zigzag shall target 106.0 to 106.5
Weekly chart implies that wave 3 of a 3 wave move is in progress. Wave 1 and Wave 3 of 3 wave move are highlighted in boxes.
Daily chart: Analysis of Wave 3 of 3 in blue box
In wave C, 4 waves out of 5 are over.
Wave 5 is targeting 106.0 - 106.5.
As the C wave in daily chart is moving in an ending diagonal pattern. The 3 waves in wave 5 might or might not be visible in daily chart due to exhaustion, hence 4H chart can help better in identification of waves.
4H chart: Analysis of wave 5
Upon completion of correction, another perfect zigzag to end wave 5 is expected. This zigzag shall target 106.0 to 106.5