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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 Elliott Wave Analysis: Looks Bearish Below 0.8882  0 comments
    Jan 7, 2014 7:55 AM

    AUDUSD broke to the upside last week as we can see, out of a wave (b) triangle so it looks like pair is making more complex and deeper corrective wave 4. Important is that rally from 0.8818 still has signs and personality of a contra-trend move. We are observing (a)-(b)-(c) rally that could already be completed at latest swing high, near 0.9000 level. We however need to see a break of that 0.8882 wave (b) low to confirm lower prices for wave 5.

    AUDUSD 4h Elliott Wave Analysis

    (click to enlarge)

    Written by www.ew-forecast.com

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