ew-forecast
Short

EURAUD: More Weakness Could Be In The Cards

FX:EURAUD   Euro / Australian Dollar
EURAUD             completed a corrective pullback in the ABC manner at 1.520. From this C wave highs a sharp drop down occurred on EUR while the other pair AUDUSD             seems to trade more stable or even higher in recent sessions. For now a nice 3 wave move down unfolded with wave 4 in view with resistance around 1.4658-1.4711 region.

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Nice bounce. Seems like it was the end of subwave 111. The correction should be shallow. Either to the 23.6 or the 38.2. Almost at the former now. What do u think? Thx for the tipoff!!
+1 Reply
Wve iii could be over, as recent bounce suggest so. Wave four can retrace to around 23.6, 38.2 or 50.0 of wave three. Let's see how it unfolds
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Marvin ew-forecast
Looks like the 38.2 ended wave iv. I sold too early from the 23.6 but oh well in profit now. How do u calculate your target for wave v? Since wave iii extended, wave v should be normal which means either the 38.2 or 61.8 extension of 0 to end iv. I'm thinking 61.8 as 38 just brings us to end wave iii.
+1 Reply
Hi Marvin. Yes either the 38.2 or 61.8 extension of 0 to end iv would be great for projecting wave five,
Reply
Marvin ew-forecast
Indeed. I got stopped out for 80+ pips. Looking for another entry now. Nice trade man and good luck to you. Keep your charts coming as it's great to confirm with u as I'm a newbie to EWA.
+1 Reply
You're welcome, they are just gonna keep on coming.
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Nive. Thanks you. An extended 3rd wave. The question is, is it over. Could well be.
+1 Reply
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