This is an bearish alternative view of EUR/AUD. It is still possible that it is making a big flat correction possibly finishing with an ending diagonal C but I thought I would do a bearish view as well. If this count is correct the next move is going to be a very dramatic fall.
I have labeled the move up from the 28th April Low as a zig zag correction making an x wave.
After this I have labelled a leading diagonal either a of y or 1 of a of y
Then a pull back to b of y or 2 of a of y
This is followed by a 1-2 then 1-ii
In this scenario I am looking for the price to start making either a 3 of 3 of c or a 3 of 3 of 3 of a of y. Whichever the case the next move should be a very dramatic drop. A move through 1.4352 (top of A) would give me further confidence for this view.
I have labeled the move up from the 28th April Low as a zig zag correction making an x wave.
After this I have labelled a leading diagonal either a of y or 1 of a of y
Then a pull back to b of y or 2 of a of y
This is followed by a 1-2 then 1-ii
In this scenario I am looking for the price to start making either a 3 of 3 of c or a 3 of 3 of 3 of a of y. Whichever the case the next move should be a very dramatic drop. A move through 1.4352 (top of A) would give me further confidence for this view.
