EURAUD Shows Bearish Sequence Favoring Downside

Elliottwave_Forecast

EURAUD Shows Bearish Sequence Favoring DownsideSeptember 19, 2022ByEWFHendra

The Euro continues to slide against many other major currencies after Russia stopped the gas supplies. The deepening energy crisis causes fear of a recession in the Euro area. Europe has tried to diversify its energy sources and build up reserves, but it’s not possible to totally avert the hit to the economy. In the charts below, we will look at the Elliott Wave chart of the pair.

EURAUD Weekly Elliott Wave Chart

Weekly Elliott Wave view of EURAUD above suggests that the pair shows a lower low sequence from 3.16.2020 high favoring further downside. While pair stays below wave II/B high at 1.6436, rally should fail in 3, 7, or 11 swing for further downside to reach the blue box area of 1.084 – 1.019.

EURAUD 4 Hour Elliott Wave Chart

EURAUD 4 Hour Elliott Wave Chart

4 Hour Elliott Wave View of EURAUD above shows that the rally from 8.26.2022 low takes the form of a double three structure. A double three is a 3-3-3 structure with label of ((w))-((x))-((y)). The target higher in this case is ((y)) = 100% – 161.8% Fibonacci extension of ((w)) at 1.526 – 1.564 area. From this area, pair could end the 7 swing rally and extends lower or at least pullback in 3 waves.

Source:https://elliottwave-forecast.com/forex/euraud-shows-bearish-sequence-favoring-downside/

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Rara08
2022-09-19
Rara08
ok
dino87
2022-09-19
dino87
ok
FreePrincess
2022-09-19
FreePrincess
Ok
superGu
2022-09-19
superGu
Awesome
Delvin
2022-09-19
Delvin
Oh no
GuekNgo
2022-09-19
GuekNgo
T

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The deepening energy crisis causes fear of a recession in the Euro area. Europe has tried to diversify its energy sources and build up reserves, but it’s not possible to totally avert the hit to the economy. In the charts below, we will look at the Elliott Wave chart of the pair.</p><h2>EURAUD Weekly Elliott Wave Chart</h2><p class=\"t-img-caption\"><img referrerpolicy=\"no-referrer\" src=\"https://community-static.tradeup.com/news/374f046e2c33e04233f0bb5d033c6555\" tg-width=\"632\" tg-height=\"324\"></p><h2><br></h2><p>Weekly Elliott Wave view of EURAUD above suggests that the pair shows a lower low sequence from 3.16.2020 high favoring further downside. While pair stays below wave II/B high at 1.6436, rally should fail in 3, 7, or 11 swing for further downside to reach the blue box area of 1.084 – 1.019.</p><h2>EURAUD 4 Hour Elliott Wave Chart</h2><p class=\"t-img-caption\"><img referrerpolicy=\"no-referrer\" src=\"https://community-static.tradeup.com/news/8c7c398b9f8d3a0529a89901d71dfcfc\" tg-width=\"632\" tg-height=\"324\"><span>EURAUD 4 Hour Elliott Wave Chart</span></p><p>4 Hour Elliott Wave View of EURAUD above shows that the rally from 8.26.2022 low takes the form of a double three structure. A double three is a 3-3-3 structure with label of ((w))-((x))-((y)). The target higher in this case is ((y)) = 100% – 161.8% Fibonacci extension of ((w)) at 1.526 – 1.564 area. From this area, pair could end the 7 swing rally and extends lower or at least pullback in 3 waves.</p><p></p><p>Source:https://elliottwave-forecast.com/forex/euraud-shows-bearish-sequence-favoring-downside/</p></body></html>","htmlText":"<html><head></head><body><p>EURAUD Shows Bearish Sequence Favoring DownsideSeptember 19, 2022ByEWFHendra</p><p>The Euro continues to slide against many other major currencies after Russia stopped the gas supplies. The deepening energy crisis causes fear of a recession in the Euro area. Europe has tried to diversify its energy sources and build up reserves, but it’s not possible to totally avert the hit to the economy. In the charts below, we will look at the Elliott Wave chart of the pair.</p><h2>EURAUD Weekly Elliott Wave Chart</h2><p class=\"t-img-caption\"><img referrerpolicy=\"no-referrer\" src=\"https://community-static.tradeup.com/news/374f046e2c33e04233f0bb5d033c6555\" tg-width=\"632\" tg-height=\"324\"></p><h2><br></h2><p>Weekly Elliott Wave view of EURAUD above suggests that the pair shows a lower low sequence from 3.16.2020 high favoring further downside. While pair stays below wave II/B high at 1.6436, rally should fail in 3, 7, or 11 swing for further downside to reach the blue box area of 1.084 – 1.019.</p><h2>EURAUD 4 Hour Elliott Wave Chart</h2><p class=\"t-img-caption\"><img referrerpolicy=\"no-referrer\" src=\"https://community-static.tradeup.com/news/8c7c398b9f8d3a0529a89901d71dfcfc\" tg-width=\"632\" tg-height=\"324\"><span>EURAUD 4 Hour Elliott Wave Chart</span></p><p>4 Hour Elliott Wave View of EURAUD above shows that the rally from 8.26.2022 low takes the form of a double three structure. A double three is a 3-3-3 structure with label of ((w))-((x))-((y)). The target higher in this case is ((y)) = 100% – 161.8% Fibonacci extension of ((w)) at 1.526 – 1.564 area. From this area, pair could end the 7 swing rally and extends lower or at least pullback in 3 waves.</p><p></p><p>Source:https://elliottwave-forecast.com/forex/euraud-shows-bearish-sequence-favoring-downside/</p></body></html>","text":"EURAUD Shows Bearish Sequence Favoring DownsideSeptember 19, 2022ByEWFHendra The Euro continues to slide against many other major currencies after Russia stopped the gas supplies. The deepening energy crisis causes fear of a recession in the Euro area. Europe has tried to diversify its energy sources and build up reserves, but it’s not possible to totally avert the hit to the economy. In the charts below, we will look at the Elliott Wave chart of the pair. EURAUD Weekly Elliott Wave Chart Weekly Elliott Wave view of EURAUD above suggests that the pair shows a lower low sequence from 3.16.2020 high favoring further downside. While pair stays below wave II/B high at 1.6436, rally should fail in 3, 7, or 11 swing for further downside to reach the blue box area of 1.084 – 1.019. EURAUD 4 Hour Elliott Wave Chart EURAUD 4 Hour Elliott Wave Chart 4 Hour Elliott Wave View of EURAUD above shows that the rally from 8.26.2022 low takes the form of a double three structure. A double three is a 3-3-3 structure with label of ((w))-((x))-((y)). The target higher in this case is ((y)) = 100% – 161.8% Fibonacci extension of ((w)) at 1.526 – 1.564 area. From this area, pair could end the 7 swing rally and extends lower or at least pullback in 3 waves. 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