• 3 hours $5 Million Gold Toilet Vanishes
  • 3 hours Gold On The Rise After Fed Rate Cut
  • 6 hours Oil Trader Loses $320 Million On Derivative Bets
  • 1 day S&P 500 Officially In An Earnings Recession
  • 1 day Miners Are Weathering The Trade War Storm
  • 1 day UK Credit Card Interest Rates Are Skyrocketing
  • 2 days From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 2 days Are Smart TVs Spying On Us?
  • 2 days Is Fossil Fuel Divestment A Waste Of Time?
  • 3 days A Russian Billionaire’s Space Quest To Save Humanity
  • 3 days Markets Take Breather As Consolidation Continues
  • 3 days Economic Woes Weigh On Copper Prices
  • 3 days World's Largest IPO At Risk Following Drone Strikes
  • 4 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 4 days What’s Behind The Silver Sell-Off?
  • 4 days The Retail Apocalypse Is Accelerating
  • 5 days The Top Tech Stocks Of The Year
  • 5 days America’s Workforce Elderly Workforce To Double By 2028
  • 5 days Toyota Tests Solar-Powered Prius
  • 6 days Why The Gold Rally Flatlined
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…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  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