Citi… it`s enough?

Elliott Wave Counting

Seems to be Elliott Wave counting is complete, as price is unfolding an impulsive wave. Wave 5 is about to end developing a Butterfly Harmonic Pattern, as we can see in the next chart.

Butterfly Harmonic Pattern

Proyections for the CD leg come from FibZone determined from the 216.8 % Fibonacci extension of BC segment, and from 161.8 Fibonacci Extension of XA segment. That give us a minimun expected in 1.73 level. After that, price must break to the upside, looking for new highs and for the establishement of a “brand new” bullish trend. It`s important to remember that the Butterfly Harmonic Pattern is well known as a market reversal point. It`s enough. -