Great Pip gains last week and have closed my shorts and looking at a long opportunity as I don't think the CAD is quite ready for the big drop as EUR and the DXY still has gaps to close so there is some strength in the USD in my counts.
Overall, the count for wave C is showing that there are some upward momentum as per below's count summary
Wave 1: Impulse wave up
Wave 2: ZZ retracement to 61.8%
Wave 3: Extended to 423.6% (Reason why I am calling this the termination of wave 3 is due to 2 things. 1) Sub wave impulse count shows the sub wave 3 extended to 423.6% 2) wave (vi) is a Flat corrective which fits the rule of alternation as wave 2 was ZZ.
Wave 4: As explained above, wave 4 is a Flat correction retraced to 23.6%
Forecast wave 5: I am expecting a wave (v) to start as of now to a target price of 1.3832 - 1.4000
Keep an eye on this one for sure...
Good Luck!
Don
Overall, the count for wave C is showing that there are some upward momentum as per below's count summary
Wave 1: Impulse wave up
Wave 2: ZZ retracement to 61.8%
Wave 3: Extended to 423.6% (Reason why I am calling this the termination of wave 3 is due to 2 things. 1) Sub wave impulse count shows the sub wave 3 extended to 423.6% 2) wave (vi) is a Flat corrective which fits the rule of alternation as wave 2 was ZZ.
Wave 4: As explained above, wave 4 is a Flat correction retraced to 23.6%
Forecast wave 5: I am expecting a wave (v) to start as of now to a target price of 1.3832 - 1.4000
Keep an eye on this one for sure...
Good Luck!
Don
