Short term Elliottwave structure suggests that the decline to 1.4 ended wave (B) of a larger degree triangle. Wave (C) rally is unfolding as a double three where wave W ended at 1.4348, and wave X pullback is in progress to correct the rally from 1.4 in 3, 7, or 11 swing before turning higher again. Potential target for wave X pullback is towards 1.4134 - 1.4175 area (50 - 61.8 retracement), then as far as 1.4 pivot stays intact during the pullback, expect another leg higher in wave Y towards the equal leg of (B)-W-X to complete wave (C). We don't like selling the proposed pullback.
At EWF we offer 24 hour coverage of 50 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer
