Assumingly, a development of wave C within the second wave 2 of the senior level continues. Locally, a correction in the second wave (ii) in a shape of a zigzag seems to have finished. If the assumption is correct, the price is going to reverse and fall within the third wave (iii) of a supposed diagonal in the wave C towards 0.9130, 0.9050. A critical for this scenario is a local high at the level of 0.9820.
Sell the pair below the level of 0.9820 with targets at 0.9130, 0.9050.
The breakout and consolidation above the level of 0.9820 would allow the pair to grow to 1.0100.
January 18, 2017 Stock markets continued to stabilise
German HICP confirmed at 1.7% y/y, as expected, with prices up 1.0% m/m. The sharp acceleration from just 0.7% y/y in November was mainly due to base effects from lower energy prices and the breakdown showed that prices for heating oil jumped 21.9% y/y in December...
January 18, 2017 Pound Sterling soars on PM May's Brexit speech
The British pound posted strong gains yesterday with the Prime Minister Theresa May outlining her vision for Brexit and the parliamentary approval of the Brexit deal...
January 18, 2017 Sterling remains in the spotlight
The Sterling/Dollar exploded into extreme gains on Tuesday with prices clipping above 1.2400 after Prime Minister Theresa Mayâ€™s optimistic Brexit speech signaled that the United Kingdom was seeking a deal which would satisfy both parties...
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