• 989 days Will The ECB Continue To Hike Rates?
  • 989 days Forbes: Aramco Remains Largest Company In The Middle East
  • 991 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,390 days Could Crypto Overtake Traditional Investment?
  • 1,395 days Americans Still Quitting Jobs At Record Pace
  • 1,397 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,400 days Is The Dollar Too Strong?
  • 1,401 days Big Tech Disappoints Investors on Earnings Calls
  • 1,401 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,403 days China Is Quietly Trying To Distance Itself From Russia
  • 1,403 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,407 days Crypto Investors Won Big In 2021
  • 1,408 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,408 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,411 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,411 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,414 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,415 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,415 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,417 days Are NFTs About To Take Over Gaming?
Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  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