As expected the euro moved toward the upside, and so far it’s managed to break well above our initial confirmation point.
Month: May 2019
Cable followed the alternate scenario and the cited target was reached and exceeded. Whether a bottom is in place, remains to be seen.
The euro was pushed further down to retrace just over 90% of its gains over the past week of trading. Price remains above the invalidation point of the main count, however, so there’s no need to look for an alternative. That said, if price does …
The most recent decline leaves the bullish outlook on thin ice. We will main the bullish outlook as long as the main count’s invalidation point holds.
As expected the euro moved toward the downside, reached our first target, and has come so far within 10 pips of reaching our second target. This downward move has now fulfilled all the requirements of a second-wave correction. Therefore, whether or not it’s actually complete, …
Cable’s advance is in line with the idea that a bottom is in place and that higher highs are in store before resuming the larger degree downtrend.
The euro continued moving upward for another 40 pips, mostly due to the inertia from its most recent rally. But since every action stimulates an appropriate reaction, we should see some form of downward correction very soon.
Cable drifted to lower lows, tagging the middle of the cited target zone before reversing gears. Whether a bottom is in place, remains to be seen.
In a very interesting turn of event, and upon the invalidation of our main daily count, it turned out that the long-term diagonal (which had started all the way back in February 2018) was actually still unfolding. I had avoided discussing this possibility because I …
Cable extended its decline and the cited target was reached and exceeded. We will continue to look for lower lows as long as the main hourly count’s invalidation point remains intact.