US30 Upcoming weeks bullish
Updated
I am currently following the following weekly outlook on 
US30USD according to my simple ABC zig-zag wave pattern.
So far, the sentiments and conditions are in its favor. I have broken down the last weeks price action into Elliot Waves which is shown in the charts below.
First of all, the upward Impulsive move which started in mid March consisting of impulsive waves is shown below:
Its correction consisted of simple ABC zig-zag in which Wave A consisted of Converging Diagonals, Wave B consisted of ABC zig-zag as well as Wave C.
Thesub-Wave C of Wave C Zig-Zag ended last week and consisted of Impulsive waves with aggressive downward movement and the price action stayed in Golden Pocket below 50% of Impulse wave before moving on to starting the first small upward Impulsive Move.
For the time being, the upcoming news regarding Unemployment Rate, Nonfarm Payrolls can increase volatility in the market, but I am hopeful that US30 will continue on its way upward in the coming weeks.
US30USD according to my simple ABC zig-zag wave pattern.So far, the sentiments and conditions are in its favor. I have broken down the last weeks price action into Elliot Waves which is shown in the charts below.
First of all, the upward Impulsive move which started in mid March consisting of impulsive waves is shown below:
Its correction consisted of simple ABC zig-zag in which Wave A consisted of Converging Diagonals, Wave B consisted of ABC zig-zag as well as Wave C.
The
For the time being, the upcoming news regarding Unemployment Rate, Nonfarm Payrolls can increase volatility in the market, but I am hopeful that US30 will continue on its way upward in the coming weeks.
Trade active
Nice pull back to the expected support zone.Note
There is a possibility that the downward correction is not over yet and 1 more downward push remains as shown in the chart below.In this case, we shall see the upward swing after the final low. So i am currently managing my trades while keeping into consideration of this scenario.
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