• 614 days Will The ECB Continue To Hike Rates?
  • 614 days Forbes: Aramco Remains Largest Company In The Middle East
  • 616 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,016 days Could Crypto Overtake Traditional Investment?
  • 1,021 days Americans Still Quitting Jobs At Record Pace
  • 1,023 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,026 days Is The Dollar Too Strong?
  • 1,026 days Big Tech Disappoints Investors on Earnings Calls
  • 1,027 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,029 days China Is Quietly Trying To Distance Itself From Russia
  • 1,029 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,033 days Crypto Investors Won Big In 2021
  • 1,033 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,034 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,036 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,037 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,040 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,041 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,041 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,043 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…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  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