This is my current labelling and understanding. Roughly to follow the Cable up as that appears to have formed a bullish flag.
(I'm using lower case bold for Minute waves) Of the presumed wave e, composed of wave (a), a 3-3-5,
wave (b) appears as an a-b-c with wave b as a triangle, and (c) appears to be unfolding as a full impulse wave, motive giving a sum wave e as a 3-3-5. The count of the final (c) of e is as yet unclear, it may itself be a 3-3-5.
I'm currently expecting wave e to terminate approx. on the 0.618 retracement, 1.068
What I'm waiting for is the long trade back up to 1.103 or thereabouts.
Data wise Eurozone best described as holding steady with optimistic outlook, with core inflation holding at about 0.6% above US at 0.1% nominal.
Technicals outlook to fundamentals: Greek resolution over the weekend (?), no Iran deal yet (as to the EURUSD so to Crude).
Trading looked a bit trigger happy long today. Data points: NFP Friday, mulling a possible dollar negative; would tend to have double impact as perception of under consensus would delay rate hike.
(I'm using lower case bold for Minute waves) Of the presumed wave e, composed of wave (a), a 3-3-5,
wave (b) appears as an a-b-c with wave b as a triangle, and (c) appears to be unfolding as a full impulse wave, motive giving a sum wave e as a 3-3-5. The count of the final (c) of e is as yet unclear, it may itself be a 3-3-5.
I'm currently expecting wave e to terminate approx. on the 0.618 retracement, 1.068
What I'm waiting for is the long trade back up to 1.103 or thereabouts.
Data wise Eurozone best described as holding steady with optimistic outlook, with core inflation holding at about 0.6% above US at 0.1% nominal.
Technicals outlook to fundamentals: Greek resolution over the weekend (?), no Iran deal yet (as to the EURUSD so to Crude).
Trading looked a bit trigger happy long today. Data points: NFP Friday, mulling a possible dollar negative; would tend to have double impact as perception of under consensus would delay rate hike.