It looks we have already completed bottoming on wave (ii) (But let one more down leg which may test 1250) and by the completion of wave ii we can go up to test 1281.50 Murrey Math level.
Down breakout confirmed bearish scenario where we are looking for last leg which will form Wave (v). Two price levels are favors from fibo extensions; 1st: 88.41/43 -> 50% extension of Wave (iii) and 223.8% extension of Wave (a) of Wave (v) 2nd: 87.14/24 -> 58.6% ext of Wave (iii) and 261.8% ext of Wave (a) of Wave (v) After I expect to go up
Ranging market looks like triangle formation however any break above make general outlook bullish. Cycles are very bullish for the next week. I am waiting for a break
As price hold above 1.0810 and key reversal candles occurred we can say we saw the bottom of the correction period from 1.0996 top with 50% correction. We have already saw minor wave i and wave ii.. This rally can continue somewhere around 1.1047 Murrey Math level.
Almost no change from the last update. Still looking for the final wave 5 bottom of the correctin down. ~1250 is my favorite for the possible bottom.
I shifted my outlook to Neutral because we are now in a very strong resistance area of Daily TF Murrey Math Resistance level where we several times failed to go above. I expect one more higher high to correct down for Wave iv of Wave (c).
Rise from 92.55 broken just below 96 and save my count. Now we are looking for final leg down which is Wave (c) of Wave (v). Most likely targets 91.20 & 90.14
Yesterday decline was rather hard and there is no divergence in 4H TF. So minor update on count. So still looking for Wave -iii- of Wave c down. As long as this movement stay above 1240 general outlook is very bullish.
Bullish count continues without problem. As expected Murrey Math level +1/8 put a barrier to yesterday rally and let the formation of Wave a of Wave iii. We cannot know how deep wave b will be but we should continue after some consolidation.
Current development should be corrective and we should visit 91.20 before go up more stronger
Little alteration on the count but bullish big picture remained. 2.1728 will be the first barrier before 2.2
Still looking for the final leg down to go up. Look for bullish indications around 1.0802
Rally on this pair confirmed bullish outlook. 4H overbought situation in Murrey Math lines may delay further rally but it should continue in near future