Elliott Wave Analysis: AUDUSD Trading In A Bearish Impulse

Good day traders!

AUDUSD made a new sharp and strong drop at the end of last week, which we labeled it as sub-wave 5 of three. As such, current rise is seen as wave 4) in progress if we consider a broken trendline from black waves 2 and 4. That said, we are tracking a new corrective rally that may retrace back to the area of a former wave four to 0.7874 from where bears may fall to a new low. Overall trend on Aussie is still seen bearish as long as pair trades beneath 0.7953.

AUDUSD, 4H

AUDUSD

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

 


 

50% Discount OFFER Subscribe Today And Receive Elliott Wave Charts and Forecast Daily On 19 Markets- EW-Forecast.EW-Forecast.

By using www.ew-forecast.com website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.ew-forecast.com are provided for informational and educational purposes only!

By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.