Elliott Wave Analysis: EURAUD May Face A Reversal Around 1.5000

EURAUD is still trading in its time consuming corrective pattern, labeled as an A-B-C. We are tracking this A-B-C pullback after a nice five waves up had unfolded from 1.443 area. For now we believe that price may still go lower in wave C, as only four sub-waves have been displayed. Wave C could hit support around 1.500/1.515 region, where Fibonacci ratios of 38.2 or 50.0 can act as turning points higher.

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