• 104 days Will The ECB Continue To Hike Rates?
  • 104 days Forbes: Aramco Remains Largest Company In The Middle East
  • 106 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 506 days Could Crypto Overtake Traditional Investment?
  • 510 days Americans Still Quitting Jobs At Record Pace
  • 512 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 515 days Is The Dollar Too Strong?
  • 516 days Big Tech Disappoints Investors on Earnings Calls
  • 517 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 518 days China Is Quietly Trying To Distance Itself From Russia
  • 519 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 522 days Crypto Investors Won Big In 2021
  • 523 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 523 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 526 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 526 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 529 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 530 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 530 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 532 days Are NFTs About To Take Over Gaming?
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…

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