EA LONG 2nd Elliot Wave (pullback downtrend)
EURAUD has mad a really nice rally to the downside counteracting heavy bullish momentum and sellers came right back holding their zone at 1.63591 with a nice triple top formation that completed Bearish Butterfly.
I believe the first wave has now finished completing and I am looking for a 50% retracement of the daily timeframe back to the 1.59872 which is around 340 pips. The DXY has continued to rally pretty heavily the past 2 weeks and I am seeing a slight pullback there before the holidays truly commence. I do see a head and shoulder pattern that is forming on the daily time frame and plan on shorting it towards the end of November and December
I believe the first wave has now finished completing and I am looking for a 50% retracement of the daily timeframe back to the 1.59872 which is around 340 pips. The DXY has continued to rally pretty heavily the past 2 weeks and I am seeing a slight pullback there before the holidays truly commence. I do see a head and shoulder pattern that is forming on the daily time frame and plan on shorting it towards the end of November and December
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