Short term Elliott Wave view suggests decline to 1.4439 ended wave (w) and bounce to 1.4668 ended wave (x) as a FLAT. Pair has since resumed in wave (y) lower with the internals unfolding as a double correction. The first leg of the decline wave (a) ended at 1.4374, wave (b) bounce ended at 1.455, and pair has resumed lower in wave (c) of (y). Near term, wave x bounce is in progress towards 1.438 - 1.44 area, and as far as wave (x) pivot at 1.467 stays intact, pair is expected to resume the extension lower towards 1.41 - 1.42 to complete wave (y). We don't like buying the proposed wave x bounce.
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.
