LTCUSD rising wave structure. Currently, the exchange rate rises once again from a reversal of a double amplitude wave. As the ATR has doubled, the correction is also double. Looking at the wave structure, we can assume that the exchange rate starts again at USD 93.62. It started with a major correction wave, so we would not expect to go further. We see a greater chance of correcting it from level 93.62 to the level of 83 usd levels. After a smaller sidewall, the momentum is again boosted by a steeper ATR axis at this level and rising to a target price of 107.07 usd.
The recent release of news from China probably didnt help this one mate. Hopefully service will resume soon!
meszaros
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@DamonDavies, Yes, you are right. The exchange rate was much more corrected, this was the news. I would not expect a bigger fall. Current movement is the second correction wave. Maybe you can put the exchange rate up to half a wave. If the exchange rate succeeds in drying the news, I can only see its further wave movement.