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EURAUD Short Term Elliott Wave Analysis

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EURAUDShort-Term Elliott Wave view suggests that thedecline to 1.5057 ended Intermediate wave (X). The rally from there appears to be unfolding as a 5 wavesimpulse Elliott Wave structure, suggesting that as long as the pullbacks stay above 1.5057, it could see further upside. Up from 1.5057,Minute wave ((i)) ended at 1.5234, Minute wave ((ii)) ended at 1.5075, Minute wave ((iii)) ended at 1.5606, Minute wave ((iv)) ended at 1.5481, and Minute wave ((v)) ended at 1.5657.

The 5 waves rally from 1.5057 low ended Minor wave A of azigzag 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, expect another leg lower in Minute wave ((y)) of B towards 1.529 - 1.542 area before pair resumes the rally higher or at least bounce in 3 waves. Instead of going lower, if pair resumes higher from here and break above Minor wave A at 1.5657, then Minor wave B is already complete at 1.5451. We don't like selling the pair and expect buyers to appear in 3, 7, or 11 swing dips as far as pivot at 1.5057 low stays intact.

EURAUD 1 Hour Elliott Wave Analysis


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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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