EURAUD seems to be in a wave 3 phase less price will continue to the downside. Wave 3 is normally a wave that extends the most with very fast price action. One way to measure wave 3 is by the use of the Fibonacci extension tool, we will wave 3 starts to unfold soon. We are currently in wave (5) of a higher timeframe hopefully price will move down soon it will be very interesting to watch. How I like to look at wave 3 is by referring to wave 1 price if wave 1 was slow and choppy then that means the wave after wave 2 is wave 3.