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EURAUD Showing 5 Waves Impulse

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EURAUD Showing 5 Waves Impulse

EURAUD Short term Elliott Wave view suggests that the decline to 10/27 low 1.5052 ended intermediate (X). A rally from thereis unfolding asan impulse Elliott Wave structurewith extensionand showing bullish sequence in the pair. This 5 waves move should end Minor wave A of anElliott wave zigzag structure.In which case, after 5 waves move ends, the pair shouldpullback in 3 waves at least as theElliott Wave Theorysuggests. Up from 10/27 low 1.5052,Minute wave ((i)) ended at 1.5232,Minute wave ((ii)) ended at 1.5079 low. Minute wave ((iii)) ended at1.5605. Minute wave ((iv)) ended at 1.5483 low and Minute wave ((v)) of A ended at todays peak 1.5656. Below from there, the pair is correcting the 10/27 cycle in Minor wave B pullback and expected to find the buyers in a sequence of 3, 7 or 11 swings. We dont like selling the pair and favor buying the wave B dip provided the pivot at 10/27 low 1.5052 stays intact.

EURAUD 1 Hour Elliott Wave Chart

EURAUD Showing 5 Waves Impulse

Zigzagisa 3 waves corrective pattern which is labeled as ABC. The subdivision of wave A is in 5 waves, either as impulse or diagonal. The subdivision of wave B can be any corrective structure. Finally, the subdivision of wave C is also in 5 waves, either as impulse or diagonal. Thus, zigzag has a 5-3-5 structure. Wave C typically ends at 100% 123.6% of wave A.

EURAUD Showing 5 Waves Impulse

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About the author  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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