$GBPAUD Short-term Elliott Wave Analysis 7.21.2016

Short term Elliottwave structure suggests rally from 7/11 low is unfolding as a double correction where wave W ended at 1.763 and wave X pullback ended at 1.731. From there, pair resumes rally where wave ((w)) ended at 1.777 and wave ((x)) pullback is currently in progress in 3, 7, or 11 swing to correct the rally from 1.731 before pair turns higher again. As far as 1.731 pivot stays intact during the pullback, expect more upside in the pair.

31GBPAUD 6020160721122135

At EWF we offer 24 hour coverage of 50 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 Free Trial to sample everything EWF has to offer

Subscribe to our Chart Of The Day Blog

First Name: *
Last Name: *
Your Email Address: *