it is a broker analysis, do you think forex broker is going to provide you correction analysis so you make money out of his wallet?? no way!
always remember this! Fx Brokers are your enemy, not the market...
A good chance it's dropping down under 1.5245 - where wave (iv) overlap (ii) - in forming ending diagonal (c).
Thus, setting up ........ soon, for a possible corrective rally (v) towards specific target of 0.6182 x i.
Attached Image (click to enlarge)
Elliott Wave for optimum entry, exit and risk management of trades
The pair confirmed a weak closing but it failed to confirm the break of the support of the inside day at 1,5295. The closing below the 200 days line is however supporting further possible weakness!!
The levels to follow in the coming hours. While above the 200 days line we favour a recover!!
The indicators of the daily chart are at the line for now but those of the s/t charts are instead negative suggesting further weakness. Fresh and now clear bullish divergences are supporting a negative tone supporting lower levels with a s/t target now at 1,5261!!
I still waiting for a decent rebound to sell, possibly close to the 200 hours line, now found at 1,5403!!