Short term Elliott Wave count suggests that rally to 79.12 ended wave X. Decline from there is unfolding as a double three where wave ((w)) ended at 75.95 and wave ((x)) bounce is currently in progress to correct the cycle from 9/6 (79.12) peak with potential target of 77.5 – 77.87 area before the decline resumes. As far as pivot at 79.12 remains intact during the bounce, expect pair to resume decline to a new low or at least pullback in 3 waves. We don’t like buying the proposed bounces.
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.