• 6 hours The Next Fashion Frontier
  • 1 day What Is Africa’s Role In The New Silk Road?
  • 2 days Trump Was Right About The Dollar
  • 2 days Is Silver Gearing Up For A Rally?
  • 2 days World’s Largest Hedge Fund Turns Bullish On Gold
  • 2 days It’s Time To Spend More On Clean Energy R&D
  • 3 days Contrarian Investors Are Beating The Stock Market
  • 3 days Bulgaria’s Revenue Agency Falls Victim To Biggest Cyber Heist In History
  • 3 days Amazon Faces European Union Anti-Trust Probe
  • 3 days Commodities Are Having A Stellar Year
  • 4 days Bezos’ Next Big Project Could Be Worth $100 Billion Per Year
  • 4 days 3,600 Years Later, Climate Change Turns Mammoths Into $40M Market
  • 4 days Tesla, Apple Claim China Is Stealing Intellectual Property
  • 4 days EV Giants Duke It Out For Battery Dominance
  • 5 days Tech Billionaire Takes Aim At Google
  • 5 days Chinese Police Bust Largest Ever Illicit Crypto Mining Operation
  • 5 days Expect A Pullback Before Gold's Next Major Rally
  • 5 days Why Interest On Gold Matters
  • 6 days Ten Extravagant Food Items For The Wealthy Only
  • 6 days Why Saudi Arabia Won't Give Up On The Aramco IPO
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: EURCAD and AUDNZD

EURCAD

EURCAD is moving nicely to the upside since mid-April when we talked about a reversal because of a previous three waves of decline. Market rallied 800pips since then in five waves as you can see so it may be time for a reversal, or at least a three-wave set-back. Also notice that there is a triangle in fourth wave so current leg up should be a final piece of a recovery then, thus upside is likely going to be limited next week somewhere around 1.4900, or at 1.5000 psycho level. Drop back below 1.4800 fourth wave support would be a strong indication of a top in place.

EURCAD, 1H

EUR/CAD 1-Hour Chart


AUDNZD

AUDNZD came slightly down in the last few hours from 61.8% Fib. level but we still don't see five waves up within red wave 5) so current decline is likely just another part of an ongoing fifth wave. We are looking at an ending diagonal that can find resistance then around 1.0900. Based on structure and time-perspective, we think pair may turn south next week.

AUDNZD, 30min

AUD/NZD 30-Minute 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