A possible wave count on the 4hrly chart, commencing mid May 2017.
We may be at
1. Minor wave 3 at start
in
2. Wave 3.
If this is so, then price should move swiftly down through 110 to 107 in the coming week.
From there , corrective minor wave 4 should meet resistance at 110 ( and not encroach on the area of minor wave 1).
The potential wave 3 termination is placed at 1.618 extension of wave 1.
We may be at
1. Minor wave 3 at start
in
2. Wave 3.
If this is so, then price should move swiftly down through 110 to 107 in the coming week.
From there , corrective minor wave 4 should meet resistance at 110 ( and not encroach on the area of minor wave 1).
The potential wave 3 termination is placed at 1.618 extension of wave 1.