In relation to earlier long term outlook and daily outlook,
now refer to 60 min chart to under behaviour.
the 60 min chart has a swing bottom
emerge from the daily chart 23.6% retracement.
Further weakness is below the swing bottom of 60 min
1.1950.
A correction of the rise from 1.1950 to 1.2050.
If immediately is rushes up then expect a swing to be
in progress.
Retracement if happens to 1.20117
1.999/1.9870 could be opportunity.
RSI is now in overbought zone therefore
correction to retracement could provide better entry
consider the long term (c) structure to have resumed.
Current movement could be ii of (c).
It could be possible that 1.19 is not violated
and test the retracement of 1.2011-1.999-1.9870
and moves higher that
iii of (c) would begin for rally as mentioned in earlier
monthly picutre outlook
now refer to 60 min chart to under behaviour.
the 60 min chart has a swing bottom
emerge from the daily chart 23.6% retracement.
Further weakness is below the swing bottom of 60 min
1.1950.
A correction of the rise from 1.1950 to 1.2050.
If immediately is rushes up then expect a swing to be
in progress.
Retracement if happens to 1.20117
1.999/1.9870 could be opportunity.
RSI is now in overbought zone therefore
correction to retracement could provide better entry
consider the long term (c) structure to have resumed.
Current movement could be ii of (c).
It could be possible that 1.19 is not violated
and test the retracement of 1.2011-1.999-1.9870
and moves higher that
iii of (c) would begin for rally as mentioned in earlier
monthly picutre outlook