It's unpopular count as many call for immediate short down towards sub-parity.
The idea is simple - we got impulse up from 2000 low and now we are in a long term correction which shaped
a very nice Falling Wedge pattern. None of the trend lines were broken so the model is valid.
The wave C up should be impulsive with minimum possible target at 1.75 level where C=A.
At the moment the structure of upmove is still corrective so it can be another wave X with possible target at 1.23-1.27 area which should be followed by another drop down in wave Z which should land in the area of often met 78.6% Fib retracement at 0.99 level or even below as wedge's support is at the 0.96 mark.
Critics and comments are more than welcome!
The idea is simple - we got impulse up from 2000 low and now we are in a long term correction which shaped
a very nice Falling Wedge pattern. None of the trend lines were broken so the model is valid.
The wave C up should be impulsive with minimum possible target at 1.75 level where C=A.
At the moment the structure of upmove is still corrective so it can be another wave X with possible target at 1.23-1.27 area which should be followed by another drop down in wave Z which should land in the area of often met 78.6% Fib retracement at 0.99 level or even below as wedge's support is at the 0.96 mark.
Critics and comments are more than welcome!