AUDUSD and SP500 Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Jan 29, 2015
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AUDUSD is at the lows, making wave (iii) more extended than firstly thought. So if we consider that decline from 0.8022 is not in five waves yet, then pair can easily fall to 0.7700 if not even lower in sessions. But sooner or later correction will occur, so keep an eye on blue wave (iv) rally, before going even lower. We close AUDUSD EPO Short for 175pip profit.

AUDUSD 1h Elliott Wave Analysis

AUDUSD 1-Hour Elliott Wave Analysis Chart

Futures contract on the S&P500 did not go far since yesterday, when price finished the day at the lows. Despite strong bearish momentum we see possibility of wave E) that can be in final stages of a big triangle. So ideally bounce will occur from around 1970-1980 in sessions ahead. However, for any bullish confirmation we will need to see a five wave rally from the lows and back toward 2046.

S&P500 (Mar 2015) 1h Elliott Wave Analysis

S&P500 (Mar 2015) 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

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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