$EURAUD breaks lower as expected

Preferred view suggests wave (( B )) has completed at 1.5355 and pair has resumed the decline in wave (( C )). Wave B pull back is expected to fail between 1.5186 – 1.5225 and  should stay below 1.5355 peak for this view to remain valid which calls for another leg lower toward 1.4747 – 1.4863 area. Hourly cycles are negative so we don’t like buying the pair in proposed wave B.

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