Probably, Euro is forming a large descending impulse
Wave 1 (subdivided in 5 subwaves) has ended at 231. We will have a wave iii of 3 of C (C is a third wave) so we should have massive volume, price could go really low. Now we should get a small retracement before wave 3 begins.
Possible butterfly into bullish flag pattern. Butterfly completion point could be very close to the lower band of the flag. Target 1 displayed on the picture, target 2 looking for further run to the upside (same size of the main impulse leg in the chart.)
In Daily Time Frame We have a bullish impule waves have 5 Microwave. At present USDJPY At the completion of the fifth wave of Big Structure. we expect to we will soon be heavy decrease in USDJPY.
If we take a look from 2006 the full view seems very probably we are in a expanded flat. Actually the decline from 4.6480 seems to be the 1)) wave o a C] wave The decline have several hints to confirm this view: Wave 4th has a near to 50% retracement and is in a contractile triangle shape Wave 5th is the extended one and are near to its 61.8% portion of...
In this chart i have contrasted 2 ways to count the recent gold's decline. In blue there is the wave count expressed by the EWI, that went open public in a video released the last week. In black is my view of the wave count (I hold from at least since year or so that this decline have a very significant 3)rd wave extension) Both wave counts have the their's weak...
Price appears to be correcting in a wave iv. Heavy fib resistance zone between .92566-.92910. Wave ii correction was relatively deep. so I expect this one to be more shallow with lots of consolidation. Probably will false breakout of the upper channel formed by projecting trend line from wave i to wave iii from wave ii. Wait for price to enter reversal zone and...
In perfect concordance with the final channel if we count this movement as a wave 5)) an impulse with its 5) extended we can assume that the actual decline phase could be the first wave reactive to the last rally started since 0.8129 and now we can expect be around this area for the next few weeks because the nature of this correction due the alternance guideline...