Preferred Elliott wave count suggests that rally to 1.00 ended wave (W) on 8/8. Decline from there is unfolding as a double three where wave W ended at 0.9954 and wave X ended at 1.00. Wave Y is in progress with internals as a zigzag where wave ((a)) ended at 0.9895 and wave ((b)) is proposed complete at 0.9938. Near term, as far as pivot at 1.00 remains intact, favor more downside in the pair towards 0.979 – 0.983 area next to end cycle from 8/8 high. We don’t like buying the pair.
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
Back