I line with the corrective phase seen in the dollar index (See chart link below) I'm expecting a long move in this pair. The A wave looks complete, although we never know until price breaks out of the trend. Look for a long trade set up, this may go to the previous high before putting in a C wave back down. Remember we only open trades when we see a trade set up and keep your stops tight in case A is not complete or the B wave does not reach the top.
I'll update my analysis as price develops so remember to follow to receive them.
Any one trying to learn Elliott Wave Theory can find a free comprehensive Building Blocks video course on my website see my profile for the link.
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Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes. Your Ideas, comments and questions welcome
Good luck Steve Nixon
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Let's see if we get a set up (green scribble) Still looking long
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B wave progressing nicely - if we are in a larger zigzag then it will not reach the top of A - keep stops tight