• 287 days Will The ECB Continue To Hike Rates?
  • 287 days Forbes: Aramco Remains Largest Company In The Middle East
  • 289 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 689 days Could Crypto Overtake Traditional Investment?
  • 694 days Americans Still Quitting Jobs At Record Pace
  • 696 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 699 days Is The Dollar Too Strong?
  • 699 days Big Tech Disappoints Investors on Earnings Calls
  • 700 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 702 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 706 days Crypto Investors Won Big In 2021
  • 706 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 707 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 709 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 710 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 713 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 714 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 714 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 716 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On GBPUSD And AUDUSD

GBPUSD

GBPUSD is turning significantly lower today after earlier spike up to 138.2% Fibonacci extension level where market might have formed a top if we consider a very strong decline now back to 1.4600. We see clear bearish impulse coming after completed ending diagonal in wave 5 so more weakness is now expected, especially if we also consider broken upward channel. From a minimum perspective pair is going to make three waves of decline back to former wave four, to 1.4472.

GBPUSD, 1H

GBP/USD 1-Hour Chart


AUDUSD

AUDUSD is turning down sharply after the RBA cut rates to 1.75%. We see AUD one of the weakest today so we will stick with current bearish sentiment and look for more downside from here. We are tracking red wave 5) from 0.7718 towards 0.7440-0.7500 area.

AUDUSD, 1H

AUD/USD 1-Hour Chart

 


Are you wondering where are other USD pairs headed in short-term, or maybe Gold or S&P500? We have special updates on global markets for active traders. For more details, click HERE

 

Back to homepage

Leave a comment

Leave a comment