Trade plan: look for short opportunities around 113.47 - 113.92 area
Expecting 7th swing to complete around 111.52 area, then a minor pull back before another move lower towards 109.19 - 110.08 area.
Trade plan: look for short opportunities around 0.7273 - 0.7326 area.
Expecting a 3-wave pull back towards 0.7273 - 0.7326 area as an X leg, then another move lower to complete the 3-7-11 sequence (WXY structure).
Price has completed a 3-wave sequence (ABC structure) from 16th January 2017 low (1.1985) to 26th January 2017 high (1.2670), with a pull back to form a structure low at 1.2410.
With the recent sharp pull back on 2nd February 2017 from the peak at 1.2702, we are now expecting an expanding flat structure to develop ...
With the break of 1.0773 high, we are now seeing a 5th swing from the previous structure low at 1.0619.
As long as price remains above 1.0619, we are expecting a 3-wave move higher towards 1.1053 - 1.1155.
Price is currently in a 7th swing to the upside from the 20th December 2016 low (15.63), with a structure low formed at 16.63.
As long as price remains above 16.63, we expect at least a 3-wave move to complete the minimum 9-wave sequence around 18.32 - 18.72.
From there we might see a deeper correction.