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Hi there everyone.
I hope the day went well for you.
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EURUSD
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Todays dip in EURUSD completes wave 'iii' down within a larger wave (i) grey.
Wave 'iv' pink likely began off todays lows at 1.1529.
Wave 'iv' should create a three wave counter trend rise,
and must complete the previous wave 'i' pink at 1.1648.
The previous wave [b] has offered support so far today.
But wave 'v' pink should break below that 1.1527 level to turn the tide lower in the larger count.
Tomorrow;
Watch for wave 'iv' top out at about 1.1627.
Wave 'v' down should break support.
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U.S CRUDE OIL
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Well,
We got our target high,
a completed wave count,
and a nice decline to kick off a possible new leg down in crude.
Crude topped out at 71.40 today and has sold off in an impulsive fashion off that high.
IT seems very likely now that wave [ii] has topped out at that high.
And we should see a sizable decline into wave [iii] brown or wave '3' blue as shown in the alternate count.
I may move the wave count up one degree as per the alternate count,
but I will wait and see how this decline plays out first.
Tomorrow;
I am looking for a very large decline phase to begin,
So I am willing to wait for a larger degree signal off the high to develop.
Watch for a break of the previous wave 'iv' pink at 68.20 in a possible wave 'i' down.
PS: Free access week is back again!
Next week from Tuesday to Friday I will be running the FREE Access week on the site.
Keep an eye on your email for the notifications!
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