Hello, after some time of studying and counting this pair this is now my final EW count i will use as a roadmap for next months.
Before going into details most important conclusion is that this pair has bottomed and now is about to start a strong rally for primary wave C (circled red).
Currently price is unfolding wave 2 (or B) right at the 0.61 fib retracement.
After a long term decline from Nov 2007 we can see three nice corrective channels with three almost perfect AB=CD patterns.
AB=CD pattern (red) : wave C (circled red) is unfolding now
AB=CD pattern (purple)
W=Y pattern (orange)
The rally from current price is starting this month and will continue till next year to complete wave C (circled red)
Best regards.
Before going into details most important conclusion is that this pair has bottomed and now is about to start a strong rally for primary wave C (circled red).
Currently price is unfolding wave 2 (or B) right at the 0.61 fib retracement.
After a long term decline from Nov 2007 we can see three nice corrective channels with three almost perfect AB=CD patterns.
AB=CD pattern (red) : wave C (circled red) is unfolding now
AB=CD pattern (purple)
W=Y pattern (orange)
The rally from current price is starting this month and will continue till next year to complete wave C (circled red)
Best regards.