Correction iv closing-in towards 192.90 for completion, before resuming uptrend on v.
Reading the PA on 30 min. in the last 16 hours, it has be corrective of a wave iv, most likely terminates in the next hours before resuming uptrend on a 5th. While the potential is on the down side, a better price to sell is near 124.50 for the 3rd wave down.
Deep in middle of correction while becoming more tradable in increasingly larger impulsive ranges.
Since 21st April low this pair advanced in an impulse wave clearly the characteristic of a 3rd wave (3). Due to a presence of 5th wave extension in the minor wave , it will retrace towards 2.2050 area (not a reversal) before resuming uptrend towards 1.6182 x (1) Fib extension.
There's more downside to this correction iv before resuming uptrend.
1st target towards 1.4000 sl @ 1.4894.
Retracing on a (c) wave of correction towards 0.6182 retracement before resuming downtrend.
Wave count of an Ending Diagonal wave (c) red is still intact, with the potential of terminating under 1.4290 before resuming uptrend.
Setting up for a long term wave down, based on long term view.
Tracking minor waves of upward 5 waves impulse (c) of correction (4) into target zone for reversal.
Since 15 July 2014 top, an impulse wave is still in progress, now near completion of a complex wave (4) before resuming downtrend on (5): 1. complex (4) alternates with simple (2). 2. with presence of 5th wave extension in (3), (4) retracing more than 61.82% of (3) *, and 3. (4) not overlapping (2). Thus, setup short on resuming downtrend on (5), with SL at...
Expect wave (A) of multi-year correction to terminate above 0.6182 retracement of {1}.
Due to prolonged advance last year that formed a top on 3oth January; together with the presence of a 5th wave extension, this pair is forming a 4th wave complex correction, now on wave (v) of the expanding Ending Diagonal wave (c) in red. Thus, a medium term long towards 50% retracement before setup short for long term towards 1.1250.
Since 4th June, this pair is developing a complex correction iv, now on a 5 waves expanding Ending Diagonal wave (c) in red. Setup short for target below 1.4290, before resuming uptrend.
Depending on which time frame one is trading, it's more like a medium term long then setup for long term short near 0.6182 retracement.