Before tonight gets going, a quick look at GBPUSD. Do refer to the Cyclic Phasing Analysis (no 2) to right of screen for bigger picture but at the 100 day cycle level, I am expecting a turn down into that 100 day low and the RSi & Momentum cluster suggests the market is priming for the drop too. This should be the 4th 25day cycle (and thus the 2nd 50 day cycle, although not recorded) ending at the same time as the 100 day low, so expecting some uumph.
Price action on Friday has kept the 'contracting vs expanding diagonal' debate going, but the 'contracting plus kiss goodbye' was just edging it at the close, although that could be within a larger contracting diagonal. However matters end, they will end, and down into that 100 day cycle low, price will go. The comparison for trend analysis and fibonacci ratios at this level will be the the last 100 day low at 1.4830., but will wait for the moves down to get going before worrying too much about that.
Price action on Friday has kept the 'contracting vs expanding diagonal' debate going, but the 'contracting plus kiss goodbye' was just edging it at the close, although that could be within a larger contracting diagonal. However matters end, they will end, and down into that 100 day cycle low, price will go. The comparison for trend analysis and fibonacci ratios at this level will be the the last 100 day low at 1.4830., but will wait for the moves down to get going before worrying too much about that.
No comments:
Post a Comment