Looking at the move from the 2015 lows, we can make the case that an impulse wave (5 wave advance) is in development. The short term gyrations over the last 6 or so months could be counted a couple of ways.
Firstly a triangle could be suggested for wave  wave and the upside is part of an ending diagonal for wave .
Or wave  ended at the Oct 2018 lows and the recent price action has developed as an ending diagonal for wave . Either idea suggests caution for the bulls. To argue for a reversal and move lower, It would need a big move back below 85.00 to support more weakness.
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Like on Christmas eve, the volumes are likely to be thin with Forex , so unless I see an obvious move and need to update, then the current updates still stand.
Posting no change is a waste of a post and is simply stipulating what I have been posting the last few days, I will update if needed, if any of the Forex ideas needs adjusting, but the UK is closed and that is a major source of volume for Forex.
I dont want to make a post, just for the sake of a post, I want some movement for me to comment on, so far its been slow, as you would expect due to the holidays, tomorrow should be better for Forex.
The relentless trend shown over the last few weeks is one very impressive decline; however I suspect it’s close to ending an impulse wave (5 wave decline). Currently we are tracking 2 ideas that can suggest the recent spike we saw yesterday was a 5th wave to end the move from the Oct 2018 highs or it’s the end to a 3rd wave of an impulse wave.
If the next move fails to move above 58.50 – 59.00, then new lows can still be seen to end idea 1 and complete the decline that started from the Oct 2018 highs.
At some stage a large rally is expected, a move higher in 3 waves for either wave B or [B] can setup for further weakness and target the $45.00 area or lower. For now all eyes are on the next advance and see if it can get some momentum above 58.50 -59.00 or not.
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