Hello, after some time of studying and counting this pair this is now my final EW count i will use as a roadmap for next months. Before going into details most important conclusion is that this pair has bottomed and now is about to start a strong rally for primary wave C (circled red).
Currently price is unfolding wave 2 (or B) right at the 0.61 fib retracement.
After a long term decline from Nov 2007 we can see three nice corrective channels with three almost perfect AB=CD patterns.
AB=CD pattern (red) : wave C (circled red) is unfolding now AB=CD pattern (purple) W=Y pattern (orange)
The rally from current price is starting this month and will continue till next year to complete wave C (circled red)
Best regards.
Comments
Adhami
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agree
Capital75official
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Am thinking of entering long on this pair now at the 1.513 since I believe we will see a breakout upward anytime. What do you recon.
FullTimeTrader
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I doubt price will get there according to my analysis, im staying aside right now with pending orders above 1.55000 regards.
IvanLabrie
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Safest bet is the buy stop but if it drops a bit I'd consider a long as well.
Dollar isn't rallying vs everything...
Thin or massive volume zones are the strongest s/r levels.
tntsunrise
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GREAT JOB! PERFECT WAVE COUNT
IvanLabrie
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I was thinking along these lines some time ago. It's still possible.