Since the last post, it appears to suggest the market has been developing into a possible triangle for wave [iv], whilst its possible to label a low in place for wave [v], the lack of a strong move above 107.28 can still suggest new lows for wave [v] and a thrust below 105.00. So if we were to see a new low it can end a large impulse wave (5 wave decline) from the highs at 114.72 made in Nov 2017.

If it is a triangle, thats a valuable clue as triangle are very commonly seen in the 4th wave position of an impulse wave, so a new low can setup for a bullish reversal.

The bulls need a strong move above 107.28 to support a potential breakout.

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