EUR/AUD - Is ready for a decline lower to 1.5102

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EUR/AUD:

 

Wave v has tested the 38.2% corrective target of wave iii and I will be looking for a break below 1.5235 to confirm, that wave v towards 1.5102 is developing. Black wave v could be deeper, than the 1.5102 level, but at 1.5102 Black wave v will be 38.2% of the distance traveled from the top of wave i at 1.5597 to the bottom of wave iii at 1.5116.

 

If the 1.5102 target is broken clearly we could see a continuation lower towards 1.5046 and maybe even lower towards the 61.8% target at 1.4988.