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In the previous post on this topic, I was suggesting that USCAD is moving within ascending zigzag (b)
Suggested impulse (5 ) of a is completing the model with elongation within the 3rd wave (3) of [5] of a. If this assumption is correct, it’s reasonable for wave (5) of [5] to be equal to the first wave (1) of [5]. Impulse [5] of a is fully equipped with basic waves and close to an end.
Wave structure on medium levels does not exclude ascending zigzag (b) of [iv], its first leg in the form of impulse a of (b) of [iv] can be completing. In this case, after this impulse is completed, it’s reasonble to expect local descending correctional move b of (b) of [iv], and only after that ascending zigzag (b) of [iv] can be continued with crossing 1.10 in the form of double Elliot breakout. Cricital level for this scenario is 1.0619.
You have to remember that wave analysis is a very subjective one and market can initiate whatever movement in any direction at any time.
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