On the 3 pip range bar chart, the impulsive move down can clearly be seen in the wave formation. Assuming this is 'c' of an expanded flat, the retaking of the weekly pivot at 1.3640 is likely to get a shot in the arm as new shorters are stopped out and the longs garner encouragement. So, above the weekly pivot and a thrust up should be see. Got in the back of my mind that the overall larger picture 'B' wave may have actually ended at 1.3546, or at least it needs to be clarified, so this next move up could be of a bigger degree than the of a retracement from 1.3892. As long as it is up and to the 61.8% near 1.3760, on the way, I no mind which it is!
Please make sure you have read my disclaimer! This is a personal journey into self-tutoring in technical analysis. Did you read that Disclaimer yet?
Disclaimer
Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

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