Elliottwave Forecast Blog | Elliott Wave View: EURAUD Bullish Sequence Favors More Upside | Talkmarkets
ElliotWave Forecast
Contributor's Links: Elliottwave Forecast

At Elliottwave-Forecast, we offer 24 hour coverage of 52 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, ... more

Elliott Wave View: EURAUD Bullish Sequence Favors More Upside

Date: Sunday, January 6, 2019 12:07 PM EDT

Elliott Wave view in EURAUD shows that the decline to 1.5337 low ended wave b. Rally from there unfolded as a 5 waves impulsive Elliott Wave structure. Up from 1.5337 low, Wave (1) ended at 1.5886, wave (2) ended at 1.566, wave (3) ended at 1.6453, wave (4) ended at 1.6184, and wave (5) ended at 1.6794. The 5 waves move from 1.5337 low ended wave ((1)) of a higher degree.

Pair is currently in wave ((2)) pullback to correct the rally from 12.3.2018 low (1.5337). The correction is expected to unfold in 3, 7, or 11 swing and potential area is 1.568 - 1.6069 (50 - 76.4% Fibonacci Retracement). While the dips stay above 1.5337, pair should then resume higher again. The move to 1.5337 also broke the previous high at 10.11.2018 (1.6357), therefore creating a bullish sequence from 2.22.2017 low favoring further upside.

EURAUD 4 Hour Asia Elliott Wave Chart

EURAUD Elliott Wave View looking for further upside

 

 

Disclaimer: This and other personal blog posts are not reviewed, monitored or endorsed by TalkMarkets. The content is solely the view of the author and TalkMarkets is not responsible for the content of this post in any way. Our curated content which is handpicked by our editorial team may be viewed here.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.