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EUR/GBP: Elliottwave structure suggest another low after wave ((x)) bounce

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 18, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term reading of the Elliott Wave cycle suggests decline to 0.705 ended wave (W) and bounce to 0.7197 ended wave (X). From this level, pair has resumed the decline lower in a double three structure where wave W ended at 0.7038, wave X ended at 0.711, and wave Y is in progress. Internal of wave Y is unfolding as a double three structure where wave ((w)) is proposed complete at 0.6983, and the pair is in wave ((x)) bounce in 3, 7, or 11 swing before turning lower again. We don’t like buying

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