• 288 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 290 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 690 days Could Crypto Overtake Traditional Investment?
  • 695 days Americans Still Quitting Jobs At Record Pace
  • 697 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 700 days Is The Dollar Too Strong?
  • 700 days Big Tech Disappoints Investors on Earnings Calls
  • 701 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 703 days China Is Quietly Trying To Distance Itself From Russia
  • 703 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 707 days Crypto Investors Won Big In 2021
  • 707 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 708 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 710 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 711 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 714 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 715 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 715 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 717 days Are NFTs About To Take Over Gaming?
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

AUDUSD Short-term Elliott Wave Analysis

Originally published March 20, 2015.

Best reading of Elliott wave cycles suggests decline from 0.7914 ((X)) high is taking the form of a triple three structure. Triple three is an 11 swing structure labeled here as ((w))-((x))-((y))-((z)). Drop to 0.7748 completed wave ((w)), recovery to 0.7860 was wave ((x)), dip to 0.7696 was wave ((y)) and 2nd wave ((x)) is considered completed at 0.7740. We have already seen a new low below ((y)) but as far as 0.7740 high is in place we expect to see another push lower in the pair to complete the cycle. We don't like buying the pair and favour the short side against 0.7740 pivot. Target for next leg lower is in the range of 0.7559 - 0.7517 or could even extend to 0.7500 area. If pivot at 0.7740 high gives up, that would suggest ((y)) ended at 0.7600 and we are still in 2nd wave ((x)) but pair would still remain bearish against 0.7860 and 0.7914 pivots. Once wave "W" is over, our preferred Elliott wave count calls for a bounce in the pair to correct the entire decline from 0.7914 high.

AUDUSD Elliott Wave Analysis Chart
LargerImage

 


If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

 

Back to homepage

Leave a comment

Leave a comment