Thursday, January 31, 2013

AUDUSD Could Make A Corrective Bounce Back to 1.0465 Before Turns Bearish Again

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
By at

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 ...

  • Jobless Claim Reports
    Report This Week Previous Jobless Claims 439 K 435K   Jobless Claims slightly rose by 4000 this week but fewer than forecasted. Fund...
  • USD/JPY intraday: key ST resistance at 78.45.
    Pivot: 78.45 Our preference: Short positions below 78.45 with targets @ 78.05 & 77.85 in extension. Alternative scenario: Above 78....
  • Buy Natural Gas April
    Buy Natural Gas April around $ 4.0-3.92 Stop Loss Below $ 3.822 Target $ 4.20-$4.44