AUDUSD reversed nicely lower yesterday and already made a new swing low, which means that pair has now five wave down from 1.0600 high, called an impulsive wave. In Elliott wave theory impulses show direction of a current trend. As such, we are ready for more aussie weakness but could see a corrective retracement back to 1.0465 before downtrend resumes. There is a Fibo zone around 1.0370 and December low just beneath it that could cause a bounce.
Visit our website and Get more charts and forecasts with free access through 7-Day Trial Offer.
You can also follow us on twitter @ewforecast
Stokcs, Metals, Energy, Forex, Crypto
USDCHF Technical Analysis - Sell at 0.9955
USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...
-
HONG KONG (MarketWatch) — China's consumer inflation accelerated in March to its fastest rate in almost three years, slightly ahead of e...
-
1.1 - Why is Buying Low & Selling High So Elusive? The objective is simple and seems so easy to achieve - - buy low and sell high, or se...
-
HONG KONG (MarketWatch) — Chinese economic data released Wednesday showed consumer inflation moderated slightly in April, though remaining a...