Increasing pressure on sellers as seen by the decline in trendline gradient and support being kept. Blue skies if 1.32 broken. Nike tick approved
Potential daily bullish pin bar on support. $1.9 held well. Showing potential resistances above.
Closer look. Rejection off recent 0.618? Will look for bearish daily close.
Wave 2 coronavirus? Fake break of pitchfork median and rejection? 25? Looking for a rapid drop, price looks exhausted. Levels to watch - 36, 32.5, 28.5
Retrace watch. Could be done with the down wave here, or could go a little lower still, range for a while and then retrace.
Moon phase. Dollar notices a gain in strength at some point during the period. Could be the retrace after this large down move, before a continuation to 88.47. Replay of 2017-18 move?
Seasonal drop in play, after a range. SL already moved into profit, just above 106. Target 101 area if 104.6 breaks.
Watching the timing of this phase. Possible for dip to channel bottom or 1557 and wait for long signal. Price must hold here around 1572 or 1700 to continue upwards move.
Looking for retracement on higher time frames?
H4 view of 2020 wave structure. Mapping for potential end of wave 5 here, to commence corrective wave B. A break of this key area here, could unlock a move to ~33.3, also a potential end point for wave 5.
Wave count from beginning of 2020 shown from a daily perspective. A higher high here would signal the beginnings of a bullish market from the lows, and would still be able to conform to an ABC correction wave. Could even see the B wave becoming a H&S after a retest of 20. Convincing 1-5 wave from the bottom. Profit taking already seen slightly lower, there is...