The decline to 1.5057 in EURAUD ended Intermediate wave (X). Rally from there unfolded as a 5 waves impulse Elliott Wave structure, this as long as the pullbacks stay above 1.5057 low, pair could see further upside. Up from 1.5057, Minute wave ((i)) ended at 1.5234, pullback to 1.5075 ended Minute wave ((ii)), Minute wave ((iii)) ended at 1.5606, pullback to 1.5481 ended Minute wave ((iv)), and Minute wave ((v)) ended at 1.5657.
The 5 waves rally from 1.5057 low completed Minor wave A of a zigzag Elliott Wave structure. Minor wave B is currently in progress as a double three Elliott Wave structure. Minute wave ((w)) ended of B at 1.545 and Minute wave ((x)) of B ended at 1.5626. Near term focus is on 1.529 – 1.542 area to end Minute wave ((y)) of B, then pair should resume the rally higher or bounce in 3 waves at minimum. We don’t like selling the pair and expect buyers to appear in 3, 7, or 11 swing dips from the above area for at least a 3 waves bounce as far as pivot at 1.5057 low stays intact.
EURAUD 1 Hour Elliott Wave Analysis
We provide precise forecasts with up-to-date analysis for 78 instruments. These include Forex, Commodities, World Indices, Stocks, ETFs and Bitcoin. Our clients also have immediate access to Market Overview, Sequences Report, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. In addition, we also provide Daily & Weekend Technical Videos, Live Screen Sharing Sessions, Live Trading Rooms and Chat room where clients get live updates and answers to their questions. The guidance of ElliottWave-Forecast gives subscribers the wherewithal to position themselves for proper entry and exit in the markets. We believe our disciplined methodology and Right side system is pivotal for long-term success in trading
Back
