• 41 mins 9 Ways The Lockdown Is Playing Out Around The World
  • 7 hours WeWork Sues SoftBank For Withdrawing $3 Billion Insider Payoff
  • 1 day Solving Transportation’s Biggest Problem
  • 1 day Big Banks Could Win Big On Fed Small Business Bailout
  • 1 day Trump Increases Pressure On Venezuela
  • 1 day Researchers Create Organic Battery
  • 2 days Gold Is Still A Safe Haven, But Not Very Alluring
  • 2 days China Is Buying Up Billions Of Barrels Of Cheap Crude Oil
  • 3 days Are Gold Stocks Going To Bounce Back?
  • 3 days The Politics Of A Pandemic
  • 4 days What Does CHina’s EV Slowdown Mean For The Battery Metals Sector?
  • 5 days COVID Report Cards Will Brand Businesses Forever
  • 5 days Trump Tweet Sends Oil Soaring 25%
  • 6 days Why The Coronavirus Economic Crash Is Worse Than You Think
  • 6 days Is A Global Currency Necessary?
  • 7 days America Has Shed 500,000 Millionaires Since The Coronavirus Lockdown Began
  • 7 days Trump Wants Another $2 Trillion Economic Intervention
  • 8 days The Surprising Businesses Deemed “Essential” During The Coronavirus Lockdown
  • 8 days Priceless Van Gogh "Spring Garden" Painting Stolen
  • 8 days Oil Falls To $20 For First Time In Nearly Two Decades
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: AUDUSD and GOLD

AUDUSD broke higher, ideally into a wave 5 now which is trading close to "do or die" zone near 0.7550 trendline of an ending diagonal. it will be interesting to see if we can get a reversal here; a decline in five waves down back to the lower side of pattern will suggest that highs are in. In the meantime keep an eye on 0.7774 price where ending diagonal would be invalidated as wave 3 must not be the shortest when compared to waves 1 and 5.

AUDUSD, 1H

AUD/USD 1-Hour Chart

If Aussie will continue to rise above our invalidation level then gold is headed much higher with that impulsive run that we are tracking on hourly chart. On the other hand, turn down on Aussie will likely put metal under presser as well which has invalidation level near 1240.

GOLD, 1H

Gold 1-Hour Chart

 


Visit our website and Get more charts and forecasts with free access through 14-Day Trial Offer
You can also follow us on twitter @ewforecast
www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment