Ending diagonal is forming the fifth wave on 4 hour chart. Once price shows the reversal candlesticks, one can sell. The reversal may end to the starting of the wave 5 or ending diagonal's starting point.
If we take a look from 2006 the full view seems very probably we are in a expanded flat. Actually the decline from 4.6480 seems to be the 1)) wave o a C] wave The decline have several hints to confirm this view: Wave 4th has a near to 50% retracement and is in a contractile triangle shape Wave 5th is the extended one and are near to its 61.8% portion of...
The recent down move in the Aussie has been crawling and creeping and not powerful at all. The reason might be because of the holidays and inadequate fundamental news but the result of all has formed a Diagonal. Depending on different counts we might consider it a leading diagonal or an ending diagonal, but it doesn't matter for now which one it is, as we're...
After a elongated rally is not rare to find an ending contractile diagonal. Usually this create a snap reverse. Usually this pattern exceeds the 1-3 line when form it's 5th wave In this scenario the 1 to 1.618% proportion for wave 5)) increases the odds of the turning point.
The 5th wave is forming ending diagonal. There may be rally up to the base of the diagonal. I took my target, the 50% retracement of wave (A).
Now might be the perfect time to buy to enter right before the strong bullish wave 3. It looks like wave 2 has developed into an expanding diagonal. Here is a zoomed out version of where we are on the longer term: Here is an example of an expanding diagonal: www.wavetrack.com
Euro has great influence on UXY. Several Europe economic indicators have got new higher scores. Recently Euro/USD resists bears attack at 1.3800. Federal Funds Rate is a good indicator to present attraction of USD. At some extent USD is not popular to speculator. Look at this picture, we can see wave five is failed. We can identify wave A easily. Wave A is...