Seeking Alpha's  Instablog
Send Message
We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
My company:
My blog:
Elliott Wave Analysis Service
  • Elliott Forecast For AUDUSD: Correction Could Be Near Completion 0 comments
    Sep 27, 2013 4:34 AM | about stocks: AUD

    AUDUSD is in a bearish reversal mode since last Friday when market completed a five wave recovery at 0.9528. As such, the contra-trend reaction has unfolded in three waves which has been expected as this is the minimum substructure of a corrective movement. Notice that now we have three waves down, with wave C trading at the area of a previous fourth wave. We can also see a decreasing momentum in this wave C based on reading on the Force index indicator. With that in mind reversal higher may follow soon, but it will be confirmed only if price reverses back to 0.9456 level. Nice technical support for wave C comes in at 0.9280.

    (click to enlarge)

Back To's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • bullish Head and Shoulders on 10 Year US Yields. looking higher CHART>>>
    May 13, 2015
  • bulls still in play for DAX as long as it trades above Oct 2014 trendline Elliott Wave labeled chart>>>
    May 11, 2015
  • cable $GBPUSD at the high, but in fifth wave. resistance comes in around 1.5550/1.5600 Swing high from February
    May 11, 2015
More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.