Elliott Wave Analysis: USD Index and AUDJPY Intraday

By: Gregor Horvat | Thu, Jul 17, 2014
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AUDJPY is moving sideways from July highs which looks like a corrective price action. I am tracking wave b) here that can already be done, so be aware of another leg up to the highs, close to 97/98 zone for wae c) that will complete an expanding diagonal in wave C of a big three wave recovery from 2013 low as shown on the daily chart.

AUDJPY Daily Elliott Wave Analysis

AUDJPY Daily Elliott Wave Analysis Chart

USD pairs are slow today, trapped in small ranges. USD Index still has a bullish look from current consolidation of a fourth wave that could rise up in fifth to 80.70. Intraday uptrend can resume either from current levels or from 80.45, 38.2% Fibo support.

USD Index 1h Elliott Wave Analysis

USD Index 1-Hour Elliott Wave Analysis Chart


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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