Upwards movement for the week leaves three Elliott wave counts valid.
Downwards movement has again continued as both Elliott wave counts expected for this week.
A small range day has not managed to make a new high. Declining ATR and light volume still suggest some consolidation may unfold here.
An inside day leaves both bullish and bearish Elliott wave counts the same. A new short-term hourly chart is provided.
The first target given in yesterday’s analysis on the hourly chart was at 1,532. Price reached 1,533.24 and then turned sharply down.
Upwards movement continued as both Elliott wave counts expected. Targets remain the same.