Elliott Wave EUR/USD

The waves of the Aussie are easier for me to see than on any other pair and it moves quite a bit and the spread is good............Those 3 things are all good for me..........

Anyway here is my 1 hour and daily charts............. There does seem to be some room to the downside to about to about the 1.0215 on the hourly charts and the last move up on the daily should top out for a 61.8% retracement at the 1.0375 area and finish the C wave there........... Of course it could go as high as 1.0854 without breaking any Elliott Wave rules, but I don't think it will...

P.S., I never saw the man from snowy river.............

That is good advice that I did not know before HW, so thanks to you I have more ammo in my trading arsenal...

I scaled back on the five minute and it looks like it very well like it may make 5 waves down on a larger scale. I am also posting a daily chart showing that wave 2 could be possibly be over, but if it's not then it should go down to around the .9900 area before making new highs...........But if in fact wave 2 is finished then all of the surprises will be to the down side...

Dollar strength for the next day or 2.

As usual I was a bit early but I am posting a 1 hour chart . It appears that on this pair has indeed started a wave 3 down on a minor scale. The thrust is there and that is why I am posting this chart tonight. Wave 3 is usually the longest and strongest wave so I accept that and think this one will be that way.......

Here is the Aussie daily chart. I will be looking for a daily close over the 8 moving average to confirm wave 2 is going higher. If it closes below the 1.0097 then that will be pretty good confirmation that wave 2 is over and it is in a third wave down. I already sold it several hours ago and hope I can hold the short for at least several days.

Here is the Aussie hourly chart as well. There is divergence on the RSI and a sell signal on the trix and fractal.

Here is the Aussie daily and hourly chart. On the daily chart I don't like the fact that the correction fell short of the Fibo 61.8 retracement, but that could mean a very strong down move as well. On the hourly chart, There is a very nominal high here and this pair just can't seem to get any traction to the upside...... I am still favoring a strong down move, but I am trading it cautiously at this point. If it picks up momentum to the downside then I will be piling on with the crowd....