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thillygoosth
Mar 26, 2018 8:49 PM

Eur/Aud 

Euro Fx/Australian DollarFXCM

Description

EA broke the trend line of a 5 wave (what I believe to be a leading diagonal which would correct itself to around area of wave 1 high).....This is the weekly chart. The size of those wicks to the left bother me a little bit and euro strength. It is possible that it starts working down from here, it's been going down while the other euros been going up... Anyways, I see a large sell is coming, but doesn't mean we can't get a correction or a huge spike. I see the longer term trend bullish, but this 5 wave pattern has a high probability of correcting itself. remember, they like to break the trend line. All it did was barely break it. If it is to correct this 5 wave and continue up, it seems like the move down may fairly sharp considering the measurements.... Don't have confirmation yet.
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