Previous chart with running Flat is one possible scenario indicating AB finished, C possibly in progress (with red line indicating A, and light blue lines indicating a and c of a B) or one more leg down to finish c of B (darker blue in the Flat detail)
On this chart you can see two similar scenarios. At the moment it is the best I can do. Not really clear and it is due to the fact that I had a small pause, I was not following news and it is important to me since I don't look only in the geometry of waves, but I'm trying to grasp whats beneath.
The sentiment is still very USD bullish, "fundamentals" are not.
With Crude falling in a free fall, and signs of slowing in the economy, especially housing, for which I wrote in September last year that is a major contributor of the GDP, more tightening could be hardly justified, but is not impossible to happen.
here is the chart :)
ID
will be back with comment on NZD chart.
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