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CADJPY: While below 88.9, Elliottwave structure suggests more downside

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 23, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    Short term Elliott Wave cycle suggests decline to 86.35 ended wave 3. From this level, pair has started wave 4 bounce in 3 swing towards 87.3 – 87.75 before the decline resumes. As far as wave ((iv)) pivot at 88.9 stays intact, expect sellers to appear from the above area and pair to resume lower once wave 4 bounce is complete. We don’t like buying the proposed bounce.

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