• 146 days Could Crypto Overtake Traditional Investment?
  • 151 days Americans Still Quitting Jobs At Record Pace
  • 153 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 156 days Is The Dollar Too Strong?
  • 156 days Big Tech Disappoints Investors on Earnings Calls
  • 157 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 159 days China Is Quietly Trying To Distance Itself From Russia
  • 159 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 163 days Crypto Investors Won Big In 2021
  • 163 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 164 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 166 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 167 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 170 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 171 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 171 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 173 days Are NFTs About To Take Over Gaming?
  • 174 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 177 days What’s Causing Inflation In The United States?
  • 178 days Intel Joins Russian Exodus as Chip Shortage Digs In
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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

Will Today's Gold Stocks Track Previous Bull Markets?

Short Term AUDUSD Elliott Wave view suggests the rally from 5/9 low is unfolding as a double three Elliott Wave structure. Up from 5/9 (0.7325) low, Minute wave ((w)) ended at 0.7517 and Minute wave ((x)) ended at 0.7368. Pair has since broken above 0.7517, adding validity that the next leg higher has started. From 0.7368 low, the rally is also unfolding as a double three Elliott Wave structure. Minutte wave (w) ended at 0.7498 and Minutte wave (x) ended at 0.7453. Near term, pair has reached 100% from 5/9 low therefore cycle from 5/9 low is mature and could end any moment. However, short term extension higher to 0.76 area is still possible before pair ends cycle from 0.7368 low while pullbacks stay above 0.7452. As cycle from 5/9 low has reached the minimum target, it’s not a good idea to chase strength at this stage. We don’t like selling the pair either as higher degree trend is bullish and expect profit taking to take place soon in 3, 7, or 11 swing to correct cycle from 5/9 low.

AUDUSD Elliott Wave 1 Hour Chart

 

(Click to enlarge)

By Elliot Wave Forecast 

Back to homepage

Leave a comment

Leave a comment