• 4 hours The $90M Inflatable Rabbit Redefining Modern Art
  • 7 hours Huawei’s Fate In The Air
  • 10 hours Tesla Slashes Prices Again
  • 12 hours The Modern History Of Financial Entropy
  • 1 day Italy’s Central Bank Embraces Sustainable Investing
  • 1 day Trump Lifts Metals Tariffs To Cool Simmering Trade War
  • 1 day Researchers Push To Limit Space Mining
  • 1 day Could China Start Dumping U.S. Treasury Bonds?
  • 2 days Is Winter Coming For HBO?
  • 2 days Rise Of EVs Signals Peak Gasoline
  • 3 days Jeff Bezos Doubles Down On Space Colonization Ambitions
  • 3 days Gold Mining Stocks Stuck In Limbo
  • 4 days Executive Order Targets Huawei Over Espionage
  • 4 days Why Now May Be The Best Time Ever To Hold Gold
  • 5 days Fake News Sinks Shares In UK-Based Bank
  • 5 days De Beers To Build $468 Million Diamond Recovery Ship
  • 5 days Moody's: Turkey Faces Possible Credit Downgrade
  • 5 days Tesla's Solar Sales Are Slipping
  • 6 days Auto Industry To Get Temporary Tariff Relief
  • 6 days Welcome To The World’s Biggest Free Trade Area
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

  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