According to the Analyst, "The market could clearly be missing a 5th wave advance to 1.3202/52 (daily weekly trend) with the option to extend to the main T-junction on big scale at 1.3487/93 (2012 high/50 %)." Only a break above the 1.32, "would classically confirm a game change on big scale whereas a decisive break below 1.2775 on hourly close (using an 0.5 % filter) would classify the 1.3172 high as an overshooting wave 4 only" Mr. Anthonj adds.
Such a break, according to the trader, "would at least call for a broader 2nd.-or Bwave countertrend decline to 1.2607 (int. 50 %) and to 1.2309 (int. 76.4 %) at a later stage whereas a decisive break below the latter would get former lows from 2010 and 2005 at 1.1876 and at 1.1641 back into focus."