• 271 days Could Crypto Overtake Traditional Investment?
  • 276 days Americans Still Quitting Jobs At Record Pace
  • 278 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 281 days Is The Dollar Too Strong?
  • 281 days Big Tech Disappoints Investors on Earnings Calls
  • 282 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 284 days China Is Quietly Trying To Distance Itself From Russia
  • 284 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 288 days Crypto Investors Won Big In 2021
  • 288 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 289 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 291 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 292 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 295 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 296 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 296 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 298 days Are NFTs About To Take Over Gaming?
  • 299 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 302 days What’s Causing Inflation In The United States?
  • 303 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

Elliott Intraday Analysis On EURUSD And AUDUSD

EURUSD

Retail sales in the US came as the market has expected. EURUSD is still heading lower in the black wave 3. Substructure suggests that more weakness may now follow as red wave iv) found its resistance at 1.1240 area. Lower levels for the red wave v) could now be around 1.1150 area. After black wave 3 is completed, price may then make a reversal into a bigger three wave recovery in wave 4.

EURUSD, 1H

EUR/USD 1-Hour Chart


AUDUSD

On the AUDUSD we are observing an idea of a flat correction taking part in red wave 2), after price completed a nice impulsive drop at 0.7358 level, labeled as wave 1). As we see on the chart, price already completed waves A and B, and could now already be making wave C, as recent bounce suggest that a temporary rally higher may be underway. Ideally pair will reach the area of a formal wave iv at 0.7418, where a possible turning point lower may happen.

AUDUSD, 30Min

AUD/USD 30-Minute Chart

 


Interested in our services ? We have a Special Offer : Get First 2 Months For The Price Of 1!! Grab the opportunity now at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment