Rally to 0.9747 completed wave (X) and pair the has resumed the decline lower. Wave W is currently in progress and unfolding in the form of double correction ((w))-((x))-((y)) where wave ((w)) ended at 0.9589, wave ((x)) ended at 0.966, and wave ((y)) is in progress towards 0.9464 - 0.95 to complete red wave W.
Once red wave W is complete, the pair should bounce in red wave X before the decline resumes. We don't like buying the bounce in red wave X. As far as 0.9747 level holds in the bounce, expect to pair to turn and resume the decline lower.
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Email hendra@elliottwave-forecast.com if you want to be in distribution list for Weekly, Daily, and 4 Hour Elliottwave Charts update for these 5 pairs (AUD/NZD, AUD/CAD, NZD/CAD, EUR/NZD, and EUR/CAD)
Once red wave W is complete, the pair should bounce in red wave X before the decline resumes. We don't like buying the bounce in red wave X. As far as 0.9747 level holds in the bounce, expect to pair to turn and resume the decline lower.
---------------------------------
Follow this pair & others at Twitter: cmellon1976
Website: elliottwave-for.../amember/go.php?r=2670&...
Email hendra@elliottwave-forecast.com if you want to be in distribution list for Weekly, Daily, and 4 Hour Elliottwave Charts update for these 5 pairs (AUD/NZD, AUD/CAD, NZD/CAD, EUR/NZD, and EUR/CAD)
