Eur- Aud

[ronnimar]

this is a long term forecast (very long term).
so there wont be often up dates.

i'm using ew analysis,
in the weekly chart we can see clearly 5 impulsive wave.and (the most important) the correction that followed.
the correction came in the form of double zigzag .so,even if the correction will continue ?
as a triple ?
the next leg is up !!
only a break below 1.6190 will change the scenario.

[ronnimar]

short update.
ascending triangle 4h chart.
lets wait & see how it will unfold ?

[ronnimar]

well, in the last 2 weeks.the cross moved in the right direction.
about 300 pips.as it looks ? there is still a room for higher move.
the ascending triangle in the 4h chart.did break into the "right" direction
so,lets hope it will continue in the same manner.

[ronnimar]

the decline that we see in the pair.is in my opinion w:2 a corrective wave and there for. once the correction is over w:3 is on his way
only a break bellow 1.6190 will change the scenario !!

[ronnimar]

update:w 3 in his early stage.
a break bellow 1.6190 will .......... the scenario !!

[ronnimar]

update : in the daily chart we can see the
corrective structure of w:2so the assumption that w:3 is on the way is reasonable.
i think that the momentum indicator + the support that the price is having from the 50 sma
support the assumption that the bias is up.
in the 4h chart we can see clearly the internal structure of w:1/3
p/s
possible target for w:3 is 1.6800

[ronnimar]

Originally Posted by ronnimar

a break bellow 1.6190 will .......... the scenario !!

1.619 is history by now.
no question, wrong counting.

[bossxero]

Hehe..

Thats the bad part with EW actually... It eats up too much of your brainpower and leaves you counting waves even while asleep

Get EW software like Elwave of Elliotician, they will do the counting for you. If you need further info, pm me.

Regards