Short term Elliott Wave view suggests decline to 1.4439 ended wave (w) and bounce to 1.4668 ended wave (x) as a FLAT. Pair has since resumed in wave (y) lower with the internals unfolding as a zigzag. The first leg of the decline wave (a) is in progress as 5 waves. From 1.4668 high, the decline so far looks to be in 3 waves and thus after wave iv bounce is complete around 1.445 – 1.447 area, pair has a chance to do another swing lower in wave v towards 1.43 area to complete wave (a). Once wave (a) is complete, pair is expected to bounce in wave (b) to correct the decline from 1.4668 before the next leg lower in wave (c). We don’t like buying the proposed bounce in wave (b). As far as 1.4668 pivot stays intact during wave (b) bounce, expect the pair to resume the decline to new low in wave (c) of (y).
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! We are currently also running 30% promotion on Platinum Plan, valid for new members
Back
