Elliott Wave Intra-day Analysis: GOLD Into A Correction, And AUD/USD Towards New Lows
|Hello traders,
Gold remains in a corrective phase, meaning that more upside can be seen as corrections should be made by three waves. After that we can expect a new drop, ideally from around 1278/1280 resistance.
GOLD, 1h
Aussie may see a new low from here as we still cannot count 5 waves down within wave 5. After that we will expect a bounce, probably next week.
AUDUSD, 1h
Interested in active FX or CRYPTO Elliott Wave labeled charts on a daily basis? Now its your time; we have Limited Offer; get a 14 day trial for 1€. Check our website at www.ew-forecast.com for more details.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.