General Overview for 25/01/2014:
On Weekly chart the
possible triangle formation might be done and short orders should be
opened now BUT tho confirm this point of view the breakout below green
trendline must happen on at least daily time frame.
On lower time
frames one can see that the impulsive wave progression needs one more
wave to the downside before the corrective wave 2 will start. The Key
Level is 1.6556 – 1.6582 area: to continue with the strong bearish
momentum it cannot be broken.
New high invalidates the count.
Add to the shorts on retracement to the level of 1.6582 area.