Rally from wave (X) low at 1.212 is unfolding in triple corrective structure WXYZ where wave W ended at 1.2423, wave X ended at 1.23, wave Y ended at 1.263, and second wave X ended at 1.2537. Wave Z is in progress and taking the form of a double corrective structure ((w))-((x))-((y)) where the pair is currently completing wave ((w)) and can reach as high as 1.268, then it should pullback in wave ((x)) before the rally resumes again. We don't like selling the proposed pullback in wave ((x)). As far as 1.2122 pivot stays intact, more upside is expected in the pair.
If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.