• 16 hours Under COVID, The Rich Got Richer
  • 2 days Will Biden Lift Sanctions On Venezuela?
  • 2 days How To Play The Next Stage Of The Marijuana Boom
  • 3 days India Looks To Import More Venezuelan Oil Under Biden
  • 3 days 3 Unstoppable Stocks With A Biden Boost
  • 3 days The Biggest Biotech Story Of 2021?
  • 4 days Biden Looks To Rejoin Paris Climate Agreement
  • 4 days Capital One Fined Again For Money-Laundering Failure
  • 5 days The Star-Studded Fund Backing Clean Energy Startups
  • 6 days The Unexpected Retail Segment On Track To Hit $68B
  • 8 days Oil Demand Falters On New Wave Of Lockdowns
  • 9 days Signal, Telegram Gain Ground As Social Censorship Breaks Headlines
  • 9 days Investors Should Be Worried About Tech Stocks
  • 11 days Battle For Market Share Intensifies In COVID Streaming War
  • 13 days Censorship Is Now Private, And That’s Scary
  • 16 days Markets Hit ‘Ignore’ Over Capitol Coup
  • 17 days Tesla’s China Strategy Is Yet Another ReasonTo Double Down
  • 19 days NYSE Reverses China Company Delisting Plans … For Now
  • 20 days The Dollar Could Remain Weak For Years To Come
  • 24 days The Simple Secret To Tesla-Like Gains
How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

AUDUSD Elliott Wave Analysis: Finishing Wave 5

AUDUSD move up from 12/23 low is extending and as pair keeps extending higher with shallow pull backs, it looks like the move up from 12/23 low is unfolding as an Elliott wave impulse and although the cycle is mature, more upside within wave 5 is expected before pair ends the cycle from 12/23 low.

Rally to 0.735 is labelled as wave 1 and dip to 0.7283 is labelled as wave 2. Up from there wave 3 ended at 0.7568 and wave 4 pullback is proposed complete at 0.748. While pullbacks stay above there, expect AUDUSD to resume higher within wave 5 towards as high as 0.7605 - 0.7681 area to complete 5 waves move up from 12/23 (0.7155) low. Afterwards, expect a larger degree correction in wave (B) in 3, 7, or 11 swing to correct cycle from 12/23 low. A break below 0.748 could be an indication that the cycle from 12/23 low has ended and pair could see larger degree correction lower.

AUD/USD 1-Hour Elliott Wave Analysis Chart
Larger Image

 


At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.

 

Back to homepage

Leave a comment

Leave a comment