• 323 days Could Crypto Overtake Traditional Investment?
  • 328 days Americans Still Quitting Jobs At Record Pace
  • 330 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 333 days Is The Dollar Too Strong?
  • 333 days Big Tech Disappoints Investors on Earnings Calls
  • 334 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 336 days China Is Quietly Trying To Distance Itself From Russia
  • 336 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 340 days Crypto Investors Won Big In 2021
  • 340 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 341 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 343 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 344 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 347 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 348 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 348 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 350 days Are NFTs About To Take Over Gaming?
  • 351 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 354 days What’s Causing Inflation In The United States?
  • 355 days Intel Joins Russian Exodus as Chip Shortage Digs In
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  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