The professional volume prints (cyan) are all on the upside.

The upper trendline is about to be cracked. The next two weekly levels are 1.1234 and 1.1192.

Hmm… 1.1233 again – as for a volatility breakout potential. Of course, the market cannot consolidate if they want to keep that in place. W3M is at 1.1211 – a testament to the 3-day volatility collapse.

It is a wave 5 down in my opinion. The how low starts below 1.1262. The strong move down is looking like a money flow acceleration, meaning that you should see a lower low first (13 pips on average) followed by a thrust to the downside.

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