• 18 hours The S&P 500’s Top Companies Hold $2.5 Trillion In Debt
  • 1 day Electric Vehicle Rebound Bolsters Battery Metal Growth
  • 2 days BlackRock Makes A Run On Asian Stocks
  • 2 days Gold Prices Surge Above $1,800
  • 3 days Chinese Stocks Soar On Bullish Economic Data
  • 3 days Apple’s “Holy Grail Of Data” Leaves Energy Traders Disappointed
  • 3 days Gold Rally Adds $250 Billion To Top 50 Miners' Market Cap
  • 4 days TikTok Is Becoming A New Battleground For Tech Politics
  • 4 days Peru's Mining Industry Pummeled As Coronavirus Cases Surge
  • 4 days Why The World Is So Divided In Its COVID-19 Response
  • 5 days Equities Cheer Stellar Jobs Report, But It May Be Fleeting
  • 6 days Is Tech Billionaire Peter Thiel Done With Trump?
  • 6 days Musk Takes To Twitter To Troll The SEC
  • 7 days Lunar Mining May Commence As Early As 2025
  • 8 days Immigration Will Go Bust Without $1.2B Bailout
  • 8 days The Economics Of The Space Race
  • 9 days Why The World's Central Banks Aren't Yet Sold On Renewables
  • 10 days How Much More Cash Can Uber Burn?
  • 10 days Inside The Biggest Counterfeit Gold Scandal In Recent History
  • 10 days EU-U.S. Trade Relations Are Deteriorating
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

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