• 23 hours Markets Unfazed As Inflation Hits 13-Year High
  • 2 days How the Token Economy is Disrupting Financial Markets
  • 4 days FBI Investigating 100 Types Of Ransomware Attacks
  • 6 days Fed Ends Corporate Credit Emergency Lending Program
  • 8 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 9 days The Real Reason Your 401k Has Been Lagging
  • 10 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 12 days The Market Is Ripe For Another GameStop Saga
  • 15 days Senate Grills Big Banks Over Pandemic Opportunism
  • 16 days Cannabis Has A Major Cash Problem
  • 17 days Ransomware Netted Criminals $350M In 2020 Alone
  • 18 days Russia Is Taking On Google
  • 19 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 20 days Ohio Residents Brave Vaccine for Chance To Win $1M
  • 22 days Inflation Is Coming. Are You Prepared?
  • 23 days 3 World-Shaking Trends Investors Need To Watch This Year
  • 23 days Travel Might Get Another Supersonic Disruption
  • 24 days The World Is Running Out Of 6 Key Resources
  • 25 days $15/Hour Minimum Wage Might Happen Naturally
  • 27 days Money-Laundering Binance Probe Report Adds To Bitcoin Woes
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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…

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 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