Beware the appearance of the wave lengths as this is a semi-log chart.
As far as historic data allows it, I can count the rallies as impulsive. From the bottom of the chart (251.90) up to I (1920.70), there are $ 1’668.80. Multiplying this by 1.618 ($ 2’700), and adding them to the bottom of II (1046.33), we find a minimum target for wave III at $ 3’746 !
On a...
Upper chart shows the US$Index, the lower one the EURUSD. Many divergences took place (extreme on one not confirmed on the other one). That's why 91.92 on the $Index is currently important. There is a potential bullish divergence with EURUSD having made a lower low recently, not confirmed yet on the Index. The breach of 91.92 would give a more durable tone to the...
Started in Mar2009, the uptrend is still finely going on as a series, according to the very definition of a trend, of rising highs and rising lows. There was an interruption in Oct2015 “!”, where the Index failed to achieve a higher high, to even reach a lower low in Jan2016. The uptrend later resumes as its main trend line at 1765 was left intact, just for us to...
A triple resistance area is found in the 110 region (1st Fibo retr. of last fall, 21-day EMA, top of current falling channel). A breakout should trigger a recovery toward 112.25-50, eventually 114.50-60, top of what could be an always-tricky-to-play expanding triangle. I will buy on stop/entry at 110.20, stop/loss 109.70, take-profit 112.10.
Looks like it is in its final leg up (5th of a 5th) but where to put the stop/loss based on long term levels and on a previous high no-one agrees where it was is rather difficult.
Before heading back down the market seems willing to test the high of last October (when the £ flash crashed). Problem is to know where it was: 7 different data vendors have 7 different...
