Best reading of the Elliott Wave cycle suggests decline to 85.41 ended wave (4). From this level, pair has resumed rally in wave (5) as a double three structure where wave W ended at 87.58, and wave X pullback is currently in progress towards 85.75 – 86.04 area. As far as 85.41 pivot stays intact during the pullback, the pair is expected to resume higher again to complete wave 5 towards 89 area. A break below 85.41 suggests the pair is doing a double correction from 10/12 peak and may open extension lower towards 83.65 – 84.4 area.
At EWF we offer 24 hour coverage of 42 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