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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
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  • AUDUSD May Reach 0.9205 Before Turning Lower: Elliott Wave Forecast 0 comments
    Nov 29, 2013 4:19 AM

    AUDUSD is again at the lows but we see very slow and choppy price action at the lows so we suspect that wave B), which is a corrective leg, is still unfolding. A strong bullish divergence on the RSI support the idea that low, even if just temporary, is near. We are tracking a possible flat in wave B) with wave C in view that may reach 0.9205.

    AUDUSD 4h Elliott Wave Analysis

    (click to enlarge)

    Written by www.ew-forecast.com


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