The market has been moving sideways since a bullish impulse in wave ((A)) finished.
It seems like a wave ((B)) is taking the form of a triangle. So wave C of (D) is likely underway. If correct, the market should continue to increase towards the pattern’s higher side in the coming weeks.
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Higher in the fifth wave
There’s a new local high, so it turned out that wave C of ((D)) hasn’t been finished yet. If correct, we’re going to see the price a little bit higher in the short term as wave ((v)) is continually unfolding. Considering that wave ii might have been in place, a third-wave advance should begin shortly.
Trade closed: target reached
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Diagonal might be in place – ST
It seems like the fifth wave of wave C might have been in place in the form of an ending diagonal. If correct, wave (D) is likely over. A break of 110.420 will bring more evidence for this scenario.