Zink has asked me to update my Count on EUR/USD and GBP/USD and if has changed my long term counts.
Let me start by saying, that I have not changed my long term Counts neither on EUR/USD or GBP/USD.
I expect wave c to peak any time now, but we will have to remember, that wave 2 can correct all of wave 1, but not a single pip above the start of wave 1, which is at 1.3711. If we break above 1.3711 I will have to change my Count to a very bullish Count, but this scenario is not my preferred Count at this point. I'm looking for a break below 1.3266 and more importantly below 1.3177 as confirmation, that we have seen wave c peak and a new decline in wave 3 should be under way.
Long term I'm still looking for this cross to move much higher. However, if we are in b-wave triangle we have only seen wave c bottom at 1.4831 and should now see wave d higher towards 1.6255 and then finally wave e lower before wave C take us much higher.
But is it possible, that USD can be stronger against EUR and weaker against USD? YES it's possible, but I might also just be wrong in one of my calls and if this the case I think it's my EUR/USD Count that is wrong, but for now I will keep my Counts as above and stay flexible.
No comments:
Post a Comment