Buying the wave BThe 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).
Diagonal
Expanding Diagonal in wave 2Now 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
usd trend 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 ending diagonal. Wave B is symmetric diagonal. So we can hope UXY go through a to e. When UXY in e stage, if macd or rsi arise end deviation, we can buy USD.
