AUDJPY and GOLD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Jul 31, 2014
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AUDJPY is trapped in range as USDJPY rises and AUDUSD is falling. So USD is the strongest, no doubt, but the question is which one is the weakest, AUD or JPY?! Well, we see AUDJPY moving higher, going towards 97.00 in sessions ahead as three wave retracement appears completed at 94.34 with an expanded flat formation in wave b).

AUDJPY 4h Elliott Wave Analysis

AUDJPY 4-Hour Elliott Wave Analysis Chart

GOLD broke to a new swing low, now moving down within wave c) that may reach 1280 while 1297 holds. We however, still believe that reversal from July highs is a corrective and temporary retracement and that sooner or later gold will turn up, maybe already tomorrow after NFP report, but break of 1297 would be a signal for an reversal.

GOLD 1h Elliott Wave Analysis

GOLD 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, but before that he was working for Capital Forex Group and His feature articles have been published on:,,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc. He recently won the award on for Best Forex Analysis in 2016. At 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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