Short term Elliottwave structure suggests that dip to 80.66 ended wave (X). Rally from there ended wave ((w)) flat at 84.77, wave ((x)) pullback ended at 82.09, and pair has resumed the rally higher in wave ((y)) of (Y) towards 86.13 - 87.1 area. Near term, there's enough number of swing to call wave (w) complete, although a marginal high still can't be completely ruled out. Pair is expected to pullback soon in wave (x) to correct the rally from 4/18 wave ((x)) low before the rally resumes. We don't like selling the proposed pullback in wave (x) and expect more extension higher once wave (x) is complete in 3, 7, or 11 swing while the pullback stays above 82.09, and more importantly as far as 80.66 pivot stays intact.
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
