• 1 day El Salvador’s Surprise Bitcoin Move
  • 4 days Markets Unfazed As Inflation Hits 13-Year High
  • 5 days How the Token Economy is Disrupting Financial Markets
  • 7 days FBI Investigating 100 Types Of Ransomware Attacks
  • 9 days Fed Ends Corporate Credit Emergency Lending Program
  • 11 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 12 days The Real Reason Your 401k Has Been Lagging
  • 13 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 15 days The Market Is Ripe For Another GameStop Saga
  • 18 days Senate Grills Big Banks Over Pandemic Opportunism
  • 19 days Cannabis Has A Major Cash Problem
  • 20 days Ransomware Netted Criminals $350M In 2020 Alone
  • 21 days Russia Is Taking On Google
  • 22 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 23 days Ohio Residents Brave Vaccine for Chance To Win $1M
  • 25 days Inflation Is Coming. Are You Prepared?
  • 26 days Travel Might Get Another Supersonic Disruption
  • 27 days The World Is Running Out Of 6 Key Resources
  • 28 days $15/Hour Minimum Wage Might Happen Naturally
  • 30 days Money-Laundering Binance Probe Report Adds To Bitcoin Woes
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On AUDUSD And GOLD

AUDUSD

AUDUSD is at the highs with five waves up within a red wave v) while we see a divergence on the RSI. Also leg up from 0.7000 is looking very extended so we think that upside can be limited at 0.7230-0.7260 area. That said, traders must be aware of a pullback to lower levels, with minimum in three waves possibly even back to 0.7150 in sessions ahead. Break of wave iv low at 0.7204 would be important evidence that top of wave v) is in.

AUDUSD, 1H

AUDUSD 1-Hour Chart


GOLD

Gold is higher and it reached our Fibonacci projection area that can be very important for the next few sessions. We are wondering if decline from here can be strong or will be only a new pullback within uptrend. We will need more price data for sure, but as it looks right now we assume that some lower price can occur soon, especially if we consider that there was a triangle formation near 1140. Keep in mind that breakout of a triangle is final leg within larger structure.

GOLD, 30 Min

Gold 30-Minute Chart

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment