According to the analysts of Masterforex-V Academy, the price move represented by wave a (C ) of level H6-H8 (the borders are 1,3398
- 1,3621) seems to be completed. The supposition is confirmed by a
fractal-zigzag reversal (FZR) of level H1. The FZR took place at 1,3580
followed by a break of pivot 1 inside the last sub-wave at 1,3559.
Consequently,
the mid-term trend has been reversed and the road to the bottom of the
external sloping channel (1,3294/1,3398) is open.
If the price beaks and consolidates
below 1,3490, the bigger-scale uptrend will be terminated. The actual
retracement Fibo grid for a(C ) H8 is built on top of 1,3398 - 1,3621.
The downward targets are:
1,3536=38%;
1,3510=50%;
1,3490=pivot 2;
1,3483=62%+sloping channel.
1,3510=50%;
1,3490=pivot 2;
1,3483=62%+sloping channel.
The
alternative scenario implies the end of the downswing through forming a
bigger-scale upswing with breaking above 1,3621/1,3615 and an upward
FZR.
If this is the case, the Fibo grid built on top of wave A/B D1 1,3831-1,3294 will become actual:
The upward targets in this case will be:
1,3626=62%;
1,3704=76%;
1,3768=88%;
1,3831=hidden FZR.
1,3704=76%;
1,3768=88%;
1,3831=hidden FZR.
