Last week during CPI we had a fake out to complete wave E correction also wave 4 on a daily time frame. A break and retest of 1.03500 and ending diagonal will confirm a beginning of downward movement. First target at 0.99500 then we will expect a consolidation along the lower boundary of a triangle thereafter a downside continuation.
Elliot wave- Wave E complete, with 5 waves on the leg, ending diagonal identified to indicate a loss of buyer momentum.
Price Action- Bullish engulfing candle this indicates that buyers are engulfed by sellers which signals a trend reversal.
Chart Pattern(Geometry)-Ending Diagonal break out signal trend reversal
Elliot wave- Wave E complete, with 5 waves on the leg, ending diagonal identified to indicate a loss of buyer momentum.
Price Action- Bullish engulfing candle this indicates that buyers are engulfed by sellers which signals a trend reversal.
Chart Pattern(Geometry)-Ending Diagonal break out signal trend reversal