Not so much action last night in Asia – looks alike 50 % gave it finally with second test, but price hit 61.8% retracement bottom reversing from there which give an idea of correction mode. Either double or triple zigzag is more close idea I can think about it – normal ABC does not fit for it. If this is the case, it´s going to be boring week, at least in eur-usd market while SPX likely working with smaller IV correction wave also, seems to miss V impulse more close of 875-895 area where bigger correction should start to take it down more like 100 points if there was not truncated fifth on the tape (haven´t actually follow that index much lately). In FX world there´s pretty large bear patterns between the pairs, EurJpy propably the best example in 480 minute chart and these patterns will stay with us for many weeks to come if not a month.
