Short term reading of the Elliott Wave cycle suggests decline to 0.705 ended wave (W) and bounce to 0.7197 ended wave (X). From this level, pair has resumed the decline lower in a double three structure where wave W ended at 0.7038, wave X ended at 0.711, and wave Y is in progress. Internal of wave Y is unfolding as a double three structure where wave ((w)) is proposed complete at 0.6983, and the pair is in wave ((x)) bounce in 3, 7, or 11 swing before turning lower again. We don’t like buying the proposed wave ((x)) bounce. As far as 0.711 pivot stays intact during wave ((x)) bounce, pair is expected to resume lower towards 0.691 – 0.695 area to complete wave ((y)) 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!
Back
