Exciting Times Ahead
We continue to analyse our normal markets and start off with EURUSD. We are seeing price at resistance levels with loss of momentum on 240 min which could push price higher up, before we see a finish of the Wave 5 pattern. Stock indices are at crucial decision points with DAX having strongest Bearish outlook as things stand now. FTSE and DOW still need to break previous lows for stronger bearish outlook. GBPUSD pushed up as expected from our analysis before Rate Statement decision. Gold is still bearish up to PTS target levels which will come into round number psychological levels (1250) as well. Oil broke below our weekly Trendline and could see some more downside.
Price stalling at Double Bottom with 240 min loss of momentum. Could see price push higher before finishing off with final wave 5 down.
A break below 24571 will enforce downwards move, but new green PTS could give us more upside potential as we are still making higher highs and higher lows in the short term.