Short Term Elliott wave cycles suggests that decline to 76.75 ended wave (X). Rally from there is unfolding as double three where wave W ended at 82.46 and wave X ended at 80.23. Wave (Y) is currently in progress with the internal structure as a zigzag where wave (a) is proposed complete at 82.59. Near term, expect pair to pullback in wave (b) soon in 3, 7, or 11 swing to correct cycle from 11/11 low (80.23) before pair resumes higher. Potential area for wave (b) pullback to complete is at 81.1 – 81.4 area (50 – 61.8 retracement). We don’t like selling the proposed pullback and expect pair to extend higher once wave (b) pullback is completed.
At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.Back