Elliott Wave Intra-day Analysis: GOLD Into A Correction, And AUD/USD Towards New Lows

Gregor Horvat Wavetraders

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

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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