UAH/USD update - two scenario
The bullish scenario is still possible, although a rule has been violated for Wave 4, which should not fall below the peak of Wave 1. This sometimes happens - for non-standard reasons. Now this reason is panic due to coronavirus. In the bullish scenario, the failed Wave 5 is most likely to form (when the peak of Wave 5 is below the peak of Wave 3).
The bearish scenario is what we considered impulse waves 1-3, in fact ABC correction. Now we see the development of the 5th wave impulse cycle down.
The bearish scenario is what we considered impulse waves 1-3, in fact ABC correction. Now we see the development of the 5th wave impulse cycle down.
Comment:
Correct targets for Wave 5 in bullish scenario - 23.76 22.65