CADJPY: Elliottwave Structure suggests more downside

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 24, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term Elliott Wave cycle suggests decline to 86.35 ended wave 3. From this level, wave 4 bounce unfolded as a double three structure where wave (w) ended at 87.05, wave (x) ended at 86.5, and wave (y) of 4 is proposed to be complete at 87.4. Pair should now try to at least correct the rally from 86.35 in 3 swing, with primary view of extending the decline to a new low. If pair breaks above 87.4 again, it is likely doing a double correction and would open extension higher in 7 swing before

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