Aussie (AUDUSD) is coming to the downside now, testing the October lows, and it looks like the higher-degree correction from the September highs is still here, but it could now be in wave C coming out of a running triangle in wave B, meaning that the downside will be limited somewhere around the 0.6350–0.6400 area. Ideally we will see a nice reversal from that zone sometime in the next few weeks, and if we then get an impulsive price action on the recovery, we may finally complete this correction.

Become a premium member
Get daily Elliott Wave updates for US Single Stocks, SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.