• 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
  • 13 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
  • 20 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
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

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 GBPUSD

AUDUSD

AUDUSD has three waves down so uptrend may continue soon as this is a structure of a corrective price action. However, based on the degree of a pullback in current wave 4, we see supports much lower. First one is at 0.7392 and second one at 0.7339, so we want to see a bounce from that area, which means that current correction can be deeper and even more complex than at first sight.

AUDUSD, 1H

AUDUSD 1-Hour Chart


GBPUSD

GBPUSD is trading higher after sharp leg down earlier to 1.4130 area, which was the first support marked on the chart that sent pair back to the upside. We see this downward pullback now completed so more gains are likely to come in session ahead. That said, price can continue towards 1.4400 area in session ahead. There is also gap in that region from Feb 22nd that needs to be filled.

GBPUSD, 1H

GBPUSD 1-Hour Chart

 


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

 

Back to homepage

Leave a comment

Leave a comment