A major rising price action is taking place, whereby a descending wedge has been upwardly broken in the process. This move was also heralded by a bullish 3 drives pattern. Some resistance (small due to narrow width) may be encountered at the Ichimoku cloud and any pullback is a buying opportunity (particularly around 8). Primary target is 14, which represents the 1.618 Fibonacci extension of the last falling wave (coinciding also with R4)..
Kommentare
cfetrader
⋅
FXCM is rising sharply. Secondary target is 19.32.