it could break either way but the preferred view is continuation of move down once this happen, eur, gbp etc could spike up lets see...good luck
could be other EW formation but this is the preferred count for now alternation of quick and shallow wave ii suggest a long and deep wave iv a new high could be a great opportunity for shorts good luck
good luck and may the honey bears give me my honey from the usd short
the opportunity to long is taken, now let bulls and time do its job, good luck
if nfp is equal or lower than expected, usd should resume the slide and dxy should break below to continue its trend
as there is 5 waves up, price is now under pressure to correct down before moving higher hope it work, good luck
support close by, the correction down give an opportunity to long for new high good luck
the trend is your friend, if price is back below the stated line, we should see it continue its downtrend patience!
hard to say now, we need a break below to confirm this idea if price is back below the triangle, there is a chance that it drop to new low good luck
as elliottwave still does not rule out another leg up and with the view of alternation between wave ii and iv there is high probability of another leg up to complete wave v and also to take out the top good luck
to me, it shows bulls are back, we should see retracement follow by a wave 3 or C up which is the cream good luck and hope it works and get us some honey
although tons of traders are very bullish on it, there is an alternate view that price once finish the 5 waves of wave C, will melt to new low fundamentally brexit is still ongoing issue and it can lead to other issues which can corrode GU price and worse, there could be truncation which mean the drop has already started truncation is very rare and I personally...
as there is clear 5 wave up, one cannot rule out that short term reversal may have started therefore be careful as there is a possibility that the fall may persist it is also possible that there could be a leg left which could be a great opportunity for short too good luck
even if the move up is expected to break above previous high, price could take retrace first as month end is near and accounts may lock into profit first as dxy aka usd index could bounce soon, gbpusd could drop in sync with it hope it work
whatever the hype or rumours, it doesn't matter as waves suggest a reversal soon for usd once price break above the wedge, we should see it reverse back up for short term wave count suggest that should be at least one more drop after this reversal to complete the wave pattern Good luck!!!
price is near the bottom of the channel and the waves seems complete as such, price could reverse in the short term probably waiting for NFP before continuing lower as wave 5 good luck