We have seen the expected break below the former low at 130.56. This should be the final decline in wave A. We should see wave B take over anytime now for a corrective rally towards 141.25 and perhaps closer to the 61.8% corrective target at 143.78.
In the short term, a break above minor resistance at 130.33 and more importantly a break above resistance at 131.40 will confirm that wave A has been completed and wave B is in progress towards 141.25.
This is not the time to go short USD for more downside progress.
Relevance up to 06:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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