The trend is still bearish on the daily chart, but we expect a nice rally* during the next sessions, and we do not exclude that the pair could develop a corrective structure (ABC).
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What wave analysis is marked on your chart , can you explain that please as i noticed that wave (v) is longer than wave (iii) , i agree with your possible Correction and your predictions in the past have been Spot -On , this is what i have Charted and possible for the Future .
SaifurRahman
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@johnmad, wave (iii) can be smaller than wave (v) according to Elliot wave no problem with that, however wave 3 can not be the smallest wave which is the case in this count. So this violate the Elliot wave rules.
MRZF
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is this idea still valid
ELIO_ELIO
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I suppose it looks as a bullish flag on daily chart
mortdiggiddy
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I'm only wondering why you expect a corrective wave here, and not yesterday, or the day before.
TheAnonymousBanker
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@mortdiggiddy, because yesterday some levels have not been reached..... :)
mortdiggiddy
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Based on what analysis is this a bottom in UJ? The same analysis could have been applied today, yesterday, the day before and so on.