EURAUD Daily Elliott Wave Count
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08/06/18
As I mention on the Weekly Elliott Wave Count, we are looking at the move up from the 1.36274 lows to the highs of 1.61917 as an Elliot Wave Leading Diagonal for either Blue Circle i or a.
The move from those high has seen three wave lower for an ABC correction I have labeled as w. The move up from 1.52755 in corrective but still only looks like one wave up rather than a three wave correction. We could however have a failed C wave with the spike up to 1.58907 to end the x wave. It is certainly possible that we have a deep correction that holds above the 1.52755 then makes a new high above 1.58907 before we see the 1.46000 area. Only a move above 1.61917 should we consider this correction over. Until that happens I will be looking for a move toward 1.50 and even 1.46.
08/06/18
As I mention on the Weekly Elliott Wave Count, we are looking at the move up from the 1.36274 lows to the highs of 1.61917 as an Elliot Wave Leading Diagonal for either Blue Circle i or a.
The move from those high has seen three wave lower for an ABC correction I have labeled as w. The move up from 1.52755 in corrective but still only looks like one wave up rather than a three wave correction. We could however have a failed C wave with the spike up to 1.58907 to end the x wave. It is certainly possible that we have a deep correction that holds above the 1.52755 then makes a new high above 1.58907 before we see the 1.46000 area. Only a move above 1.61917 should we consider this correction over. Until that happens I will be looking for a move toward 1.50 and even 1.46.
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| $EURAUD Daily Elliott Wave Count |
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