The Elliott Wave investigation for Dow Jones Industrial Average, EURUSD and AUDUSD demonstrate expanded likelihood that a more profound adjustment might unfurl from close-by levels.
Dow Jones Industrial Average has held underneath 26,016 since the early February auction. As indicated by Elliott Wave Theory, this leaves DJIA presented to a more profound adjustment down to 20,000.
We may see a mellow ricochet however we expect this bob to be a halfway retracement and keep on holding beneath 26,016. A move over 25,500 will produce some early cautioning signals that the Elliott Wave marking on the graph underneath is off, however the bearish viewpoint proceeds with inasmuch as we are beneath 26,016.
Base on the web, the Elliott Wave investigation indicates bearish motivation waves building and that maintains the concentration towards bringing down levels.
We have been recommending since early January 2018 that a three-year extended level example is finishing and that a multi-month high stays nearby in the corner. After several false begins, we are seeing the proof mount that the high is set up.
To begin with, the high on February 15 happened just pips inside a bunch of value zones where three closure waves meet a 10-year incline line.
Also, we can check a perfect motivation wave from February 9 to February 15 so the structure has the important waves set up to represent a best. The ensuing inversion has transformed into a bearish hasty wave.
In conclusion, EUR/USD has broken beneath the February 9 low of 1.2206. That value softens now up the Elliott Wave design give some insight that the higher likelihood design is that a multi-month top in EUR/USD is set up. Source