• 3 days China Slaps Alibaba With Record $2.75B Antitrust Fine
  • 4 days The Pandemic Has Culled The Middle Class
  • 5 days Legacy Automakers See Massive Spike In Sales
  • 6 days Tesla's Biggest Competitor Is Going Cobalt-Free
  • 7 days Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan
  • 9 days The Mafia Has Expanded Its Influencer Under COVID-19
  • 10 days How Fintech Will Get Skeptics Into Crypto
  • 11 days Monday Markets Rise On Stellar Jobs Report
  • 14 days Not Even Bribery Allegations Can Crush Cannabis Boom
  • 18 days Canada May Become Leader In Booming Battery Market
  • 19 days Nearly 42% Of All Amazon Reviews Are Fake
  • 20 days Kidnapping Is Big Business In Nigeria
  • 21 days COVID Fraud Amounts To Nearly $570M
  • 23 days Art Is Now An Algorithm
  • 25 days TikTok Threatens America, Tesla Threatens China
  • 25 days Small-Cap Energy Sectors With Big Upside
  • 28 days Coinbase Valued At $68 Billion Ahead Of IPO
  • 31 days 3 Stocks To Watch Amid AstraZeneca Covid Vaccine Snafu
  • 32 days Get Ready For First Tax Hike Since 1993
  • 35 days Tech Majors Bet Big On Clean Energy
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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: Ending Wave 5 Impulse

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 as a diagonal before pair ends the cycle from 12/23 low. Rally to 0.735 is labelled as Minor wave 1 and dip to 0.7283 is labelled as Minor wave 2. Up from there Minor wave 3 ended at 0.7568 and Minor wave 4 pullback is proposed complete at 0.7488. Pair is currently in Minor wave 5 as an ending diagonal with subdivision of 3-3-3-3-3, where Minuette wave ((iii)) is expected to end soon and a Minuette wave ((iv)) pullback should be seen in 3, 7, or 11 swing before one more push higher in Minuette wave ((v)). While pullbacks stay above 0.7488, expect AUDUSD to resume higher within Minor wave 5 towards as high as 0.762 - 0.768 area to complete 5 waves move up from 12/23 (0.7155) low. Afterwards, expect a larger degree correction in Intermediate wave (B) in 3, 7, or 11 swing to correct cycle from 12/23 low. A break below 0.7488 could be an indication that the cycle from 12/23 low has ended and pair could see larger degree correction lower.

AUDUSD 1 Hour Chart

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

Elliott Wave Cycle

Elliott Wave Cycle Degrees

 


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