The so called "Trump effect" was again in play last week as the markets sold the USD whilst he gave his press-conference; so I thought I'd put that theory to the test and have an alternate Elliot Wave count to the upside similar to my original idea EUR Long idea I posted back in Jan 2017.
This is again is becoming my preferred count as I anticipate the a massive sell-off of the USD whilst TRUMP is in power!
Wave 1: Leading Diagonal (5 waves broken down by 5 X ABC corrective waves)
Wave 2:Triple Combo (WXYXZ) which retraced to a key fib level @ 0.618%
Current Wave: Wave 3 of 3 looks like it has started signified with an impulsive move up (circle red)
Forecast Wave: The current correction could be sub wave 4 so USD could indeed retest the 0.618% mark but the low at 1.03399 should hold.
Feel free to share, like and comment.
Happy Trading!!
This is again is becoming my preferred count as I anticipate the a massive sell-off of the USD whilst TRUMP is in power!
Wave 1: Leading Diagonal (5 waves broken down by 5 X ABC corrective waves)
Wave 2:Triple Combo (WXYXZ) which retraced to a key fib level @ 0.618%
Current Wave: Wave 3 of 3 looks like it has started signified with an impulsive move up (circle red)
Forecast Wave: The current correction could be sub wave 4 so USD could indeed retest the 0.618% mark but the low at 1.03399 should hold.
Feel free to share, like and comment.
Happy Trading!!
In addition, there is massive divergency in all times frames so USD is 100% over-brought.