EUR/AUD Short-term Elliott Wave Analysis: Bounce Expected Soon

Best reading of Elliott wave cycles suggests EUR/AUD is in a triple three Elliott wave structure from 10/6 (1.4779) high. Pair has got enough number of swings in place to call the cycle in wave W completed and soon a bounce would be expected to correct the cycle ideally from 9/15 (1.5096) peak and at least from 10/6 (1.4779) peak.

Another low to 1.4162 – 1.4065 could still be seen within the cycle but we don’t like chasing weakness at such a late stage in the cycles but once wave “W” is over, we expect the bounce to fail in 3, 7 or 11 swings and find sellers for another leg lower in the pair.

EUR/AUD 90 Minute Chart

This entry was posted in Stocks News and tagged . Bookmark the permalink.
0 0 votes
Notify of
0 评论
Inline Feedbacks
View all comments