Upwards movement was expected for Monday’s session but did not happen. The hourly Elliott wave count was invalidated by downwards movement.
The main Elliott wave count expected a small bounce to be followed by more downwards movement.
The bounce was longer lasting and a little deeper than expected. This changes the wave count short term but not mid term.
Both Elliott wave counts remain valid.
Price should indicate which one is correct in the next one or two sessions.
Upwards movement was expected from last analysis, but this looks to be too weak to be a breakout.
The short term target for some more upwards movement at 1,091 was reached and passed so far by 3.9.
A small inside day fits both hourly Elliott wave counts, which remain the same.
An upwards day was expected.
An upwards correction was expected to begin this week.
Monday is completing a green daily candlestick which fits the Elliott wave count perfectly.
The third hourly Elliott wave count is confirmed by a green daily candlestick.
Again, upwards movement was expected but did not happen.
Price moved slightly lower to make a new low just 1.2 below the prior day’s low and complete a small red doji.
Both Elliott wave counts had a short term target at 1,165 for a little upwards movement for Monday.
Price moved higher, reaching 1,169.15 before turning down for the session.
Upwards movement was expected by the bull Elliott wave count overall, but the pathway there was not what was expected.
Price still has not invalidated or confirmed either Elliott wave count.
Both Elliott wave counts expected overall downwards movement to begin the new week.