The US Index correction up to the 61.80% Fibonacci retracement of minor waves 1-3 missed the 98.66 low of wave 1. This means that the current structure can be still considered impulsive.
With bears pushing prices down sharply, the chances of reaching fresh lows for the completion of minor wave 5 are increasing.
This scenario could be validated below minor 3's...
GBPUSD could have ended the wave minor 4 correction at 1.2768 Nov 8 low.
This scenario sees the current structure as impulsive with minute waves 1,2 and 3 (perhaps 4 too) completed.
In case prices slide below 1.2886 we could see the end of minuette wave a, then receive a b and c lower as part of an a,b,c zigzag. However, if prices break above 1.2940 the chances...
In today's #marketinsights video recording I analyse #usdjpy and #gbpusd
USDJPY affected by:
- China announcing ready for a partial deal
- Fed Chair not as dovish, and expected to remain the case today
- US troops withdrawal from Turkey-Syria borders (perhaps to distract from impeachment inquiry?)
But with Thursday's talks resuming and Trump blacklisting Chinese...