The move last week resulted in a profit of almost 300 pips!
Now onto the chart in hand, this has a potential profit of almost 600 pips... This is not a move I want to miss.
The measurements for a valid are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
I'll be expecting price to break the daily and spike up to hit the D point around 1.46000 before stalling out.
If you want an insight on the bigger picture, take a look at my analysis on the below.
We may see a sell-off from the but if a breakout occurs this will more than likely fall into place.
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