I have this down move from mid 2011 labeled as a 5 wave Impulse down. There are a few things I do not like about the count but right now I am not to concerned. The real question is, has it bottomed and ready for a bounce to higher levels. Before I would say it has bottomed I would like to see the RSI break above the 51.3 as well as a break above a recent swing high. Thing are looking impulsive on the lower time frames so an strong up move it certainly possible.
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AUDUSD Weekly Elliott Wave Count
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