EURAUD showed great strength today after hawkish comments from ECB president Mario Draghi sent it rallying through my previous PRZ. I am again bearish on this pair as there are two bat setups completing near an optimal Wolfe Wave sell zone. A new daily pivot sits below price to add to the bearish bias. Targets are placed at the new pivot and near the 1-4 WW target line.Confluence in the PRZ:
1. Bearish bat completion
2. Alternate bearish bat completion
3. Wolfe Wave sell zone
4. 2AB=CD
5. 1.786AB=CD
6. 3BC Projection
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.