Elliott Wave Analysis: EUR/AUD Eyes Temporary Reversal
Gregor Horvat | Nov 13, 2018 11:22AM ET
Hi traders,
EUR/AUD made an overlapping five-wave drop within wave v of 3, an ending diagonal pattern, which can push price into a sharp bullish reaction. That said, at the moment we see price slowly picking up from the Fibonacci ratio of 61.8, indicating that wave 3 found a base and that a three-wave rally is already in motion. This upcoming rally can take price towards the 1.574/1.580 region in days ahead.
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