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$AUDJPY: Elliottwave Analysis looking for more upside

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Apr 20, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Short term Elliottwave structure suggests that dip to 80.66 ended wave (X). Rally from there ended wave ((w)) flat at 84.77, wave ((x)) pullback ended at 82.09, and pair has resumed the rally higher in wave ((y)) of (Y). From wave ((x)) low at 82.09, rally is unfolding as a zigzag where wave (a) ended at 85.46, and pair is now expected to pullback in wave (b) with possible target of 83.36 – 83.76 (50 – 61.8 retracement) before turning higher again. We don’t like selling the proposed pullback

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