AUDUSD Elliott Wave Analysis Looking For More Downside

By: Elliottwave-Forecast | Wed, Sep 14, 2016
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Short term Elliott Wave count suggests that rally to 0.773 ended wave X. Decline from there is unfolding as a double three where wave ((w)) ended at 0.7489 and wave ((x)) ended at 0.7568. Down from there, wave (w) ended at 0.7438 and while wave (x) bounce fails below 0.7568, expect the pair to extend lower towards as low as 0.727 – 0.7326 area to end cycle from 9/8 peak. We don’t like buying the proposed bounce.

AUD/USD Elliott Wave Analysis Chart
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Author: Elliottwave-Forecast

Elliottwave-Forecast (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

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