Supposedly, the bearish correction within a zigzag-shaped wave 2 of senior level has finished forming. Apparently, a bullish impetus is forming now, with a wave (iii) of i developed and a correction (iv) nearing completion within. If this assumption is correct and the price does not break the critical level 0.9285, it's logical to expect the pair to continue rising to a level of 0.9620.
Buy the pair from corrections above a level of 0.9285 with a target at 0.9620.
Breakout and consolidation below the level of 0.9285 will allow the pair to continue declining to the levels 0.9100–0.9000.
October 26, 2016 Revealed a larger than expected consumer confidence drop to 98.6
Asian stock markets are mostly down, with Japan a notable outperforming (closing up and indices holding on to modest gains as the Yen continued to decline against the Dollar...
October 26, 2016 AUD gains on better than expected CPI numbers
The Australian Bureau of Statistics released the consumer price index data for the third quarter. Official records showed that CPI advanced 1.3% on the year in the third quarter of 2016...
October 25, 2016 US flash Markit PMI jumped 1.7 points to 53.2 in October
Asian stock markets are mostly down, as the positive confidence indicators out of Europe and the U.S. yesterday were overshadowed by weak GDP numbers from South Korea, which weighed on most markets. Topix and Nikkei outperformed, with a weaker Yen underpinning exporters...
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