Dislikedcharts on daily, weekly, even the lower TF's are all pointing down... there is a struggle to climb atm... Two sources of elliott wave count say this could be the 3 wave in all degrees so the drop is gonna be hard.... and i mean real HARD. Possibly more extreme than we've seen in the past year... this is all speculative till we see it but I am selling this puppy till at least 1.34... if 1.34 breaks hard - hello 1.30.
will post charts of my analysis later on today... meanwhile AU is a downer too towards 1.0070.Ignored
Hi Jaylovin,
good to see one more here with EW knowledge :-)
Doing EW it is important to also watch sentiment level. Per Thursday we had only 7% USD bulls left. End of November there were 82% bulls. Look what happened since then.
Also worth to look at COT data http://www.wellenreiter-invest.de/Co...coms.price.htm<
Look what the large specs did last weeks. They abandoned their short positions with rising prices.
Maybe the first minor 5 wave move down found its end on Friday. I think in this case we might get only a relatively flat correction. So far the upmove looks less impulsive for a bigger A wave up. Like to say "lame".
We will see Sunday/Monday.
Best to you,
Markus