This chart has a great example of a tight contraction phase leading to a move down
DXY needs to finish its move to retest support so it can move to a new high around 95.
The pair should continue down towards the 5/8s line. It may turn any time now, but most likely would not make significant progress up.
Just needs to break yesterday's low now and continue.
GJ is about to reach the 50% line where it turned up before the current move down. The 50% line is also the 100% extension down from the latest move to a high (ABCD completed). We'll find out shortly which way it's going. Either a move up from the 50% line, or continuation down towards the 25% area.
Odds favor a continuation down, however the alternative is also entirely possible.
If this bounce keeps going my EU short will end the week well.
Closed Monday below Friday's low. Has crossed Thur's low already tonight. Needs to close below 1.17527 to cross the low of the whole swing up. 1.1695 crosses the low for the whole topping formation.
Looks like it will finish up a retrace around the 50% line for a spring.
Should finish to a lower high (lower than 1.2011) and then move down below 1.1695. Price model seems to be the origin of the ATM model.
Should swing up now towards the channel top. Could go for 0.7450 with this move (for the patient).
EU has crossed the lows on a weekly chart. Before it turns bearish on the daily chart it should finish the move to a lower high this coming week.
EU has begun a decline from the 1.2011 high. Today it put in what may be a lower high. It may or may not revisit the 1.1920 area. Either way it will end as a lower high in the topping formation. If the ATM bullish model is in play then I will close shorts and go long to the high (probably around 1.19—1920). If the down trend continues after a retrace of today's...
AU made a clearly defined Adam shape after dropping back into the channel and reaching the bottom. It may consolidate for a bit in the form of an Eve before moving up out of the channel to a new, higher level.
Expecting a move up to around 1.1920 before a larger move down.