AUDUSD Elliott Wave

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

07 January 2019 Elliot Wave AUDUSD made a five-wave drop down from 0.739 level, with an extended leg 5) which seems to have found a base at the 0.667 region. Notice that so far, pair has recovered more than 400 pips in sharp wave, so we assume that's still wave A of a three leg recovery. We assume that pair can be headed back to 0.7245 area and then even back for 0.7400 after wave B.

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11/01/2019

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

12 November 2018 Elliot Wave AUDUSD made a very nice and strong turn from 0.7018 which is acting impulsive because of a sharp move in the middle of that rise. As such, we assume that pair will see even more upside after pullbacks. Ideally, a new corrective pullback is here; either wave 4 or B which means that pair may see limited weakness this week near 0.7150/80 area.

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13/12/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

06 November 2018 Elliot Wave AUDUSD is continuing higher with very sharp and extended price action, so we assume that pair is in wave A), now making five sub-waves up from 0.7020 towards 0.7313 area. That said, some corrections may unravel during this recovery, so be aware of temporary pauses. First one can be wave iv, which can look for support around the 0.716/0.715 region.

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29/11/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

30 October 2018 Elliot Wave No change. AUDUSD is trading bearish, however with overlaps between waves from August to November. We see a EW ending diagonal in play within higher degree wave 5) with current turn higher representing a corrective leg. We labelled a corrective wave 4, which can look for resistance and a reversal into final leg 5 around the 0.716 region. A drop from there will confirm final wave 5 to be in play.

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16/11/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

25 October 2018 Elliot Wave AUDUSD can be unfolding a five-wave drop from the 0.7315 swing high, which we labelled as an ongoing higher degree wave 5). Wave 5) is a motive wave so it must be structured by five waves so recent rise we labelled as corrective sub-wave 4 of 5), which found resistance at the 0.716 level. Current drop that is in play, can now be start of final wave 5 of five, which can take price towards the 0.7000/0.6950.

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9/11/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

18 October 2018 Elliot Wave AUDUSD can be unfolding a five-wave drop from the 0.7315 swing high, which we labelled as a higher degree wave 5). Wave 5) is an impulse so it must be structured by five waves. At the moment we see rise in three waves from the lows as a temporary leg 4) of five, which can once completed push price into a new low, with possible support near the Fibonacci projection zone of 261.8/138.2.
On Alternate scenario we labelled a low in place, meaning a minimum three-wave rally can already be in progress.

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31/10/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

12 October 2018 Elliot Wave No change. AUDUSD completed a corrective retracement from the 0.7082 level which we labelled as corrective wave 4) as part of a downtrend. The following decline from the swing high of 0.7315 level, is now seen as wave 5), final leg of a bearish cycle which can extend its drop towards the 0.7000/0.6940 region.

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25/10/2018

tradinglounge.comAUDUSD Elliot Wave Chart 1 hr

05 October 2018 Elliot Wave Commodity currencies are very weak, with Aussie now trading towards 0.7000 psychological level with ongoing five wave cycle down from Sep 26th high. However, rallies will occur, so keen an eye on fourth wave bounce that can see resistance at 0.7100 region.

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18/10/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

01 October 2018 Elliot Wave No change. AUDUSD made a nice bounce in the last two or three weeks, which can be either a corrective rally or a change in trend. For now it's too soon to confirm a break higher because recovery with sub-wave c has slowed down at the upper resistance trendline. As such, we have to wait on more price data first but it appears that three legs down are in view anyhow.

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11/10/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

25 September 2018 Elliot Wave No change. AUDUSD made a nice bounce in the last few trading days which can be either a corrective rally or a change in trend. For now it's too soon to confirm a break higher because recovery is in three waves with subwave c trading at resistance. As such, we have to wait on more price data but will definitely consider a bullish case if goes above 0.7370, and more weakness if lower channel support is broken.

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2/10/2018

tradinglounge.comAUDUSD Elliot Wave Chart 1 hr

17 September 2018 Elliot Wave AUDUSD is also showing bullish set-up for a short-term wave c up, so be aware of RBA in the next 24 hours which can be a catalyst for strong AUD.

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25/09/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

10 September 2018 Elliot Wave AUDUSD is trading at summer lows, so pair is still searching for a bottom of a fifth wave. Based on latest price moves this can even be an ending diagonal down from 0.7450 that can stop around 0.7100 this month. A rise back above the 0.7200 area would suggest a minimum three-wave reversal.

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18/09/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

03 September 2018 Elliot Wave AUDUSD is trading at summer lows, so pair is still searching for a bottom of a fifth wave. Based on latest price moves this can even be an ending diagonal down from 0.7450 that can stop around 0.7100 this month. If that is the case then we will have to be even more patient as wave 4 and 5 are still missing to complete a higher degree wave five.

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11/09/2018

tradinglounge.comAUDUSD Elliot Wave Chart 1 hr

27 August 2018 Elliot Wave Aussie also moved nicely higher last week, with five subwaves up from 0.7236 which means that bulls are back and ready for a rise to 0.7400 while market is above 0.7236. Gold is also on the rise, about we talked a lot last week, and based on latest price action above 1200 it seems that more upside is coming which is supportive for AUD.

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5/09/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

20 August 2018 Elliot Wave AUDUSD moved out of a triangle and made a very sharp move down to 0.7200 area last week, where market can be looking for a low of a wave five. It still can be a little bit soon to confirm a turn since we need a rise above and daily close above 0.7308, but so far it looks promising for a recovery.

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30/08/2018

tradinglounge.comAUDUSD Elliot Wave Chart 4 hr

10 August 2018 Elliot Wave Finally, AUDUSD is breaking to the downside, below the red trendline support which means that fifth wave is here but first target at 0.7260 has almost been hit so new intraday pullback can be happening now, but we see room for second 0..7150 target while pair trades below 0.7380/0.7400 triangle pivot level.

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23/08/2018

tradinglounge.comAUDUSD Elliot Wave Chart 1 hr

03 August 2018 Elliot Wave As expected, even Aussie can approaching the end of a five-wave drop, which is just another evidence that USD weakness can be coming. However, here as well be aware of a recovery at least in three waves.

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14/08/2018

tradinglounge.comAUDUSD Elliot Wave Chart 30 mn

27 July 2018 Elliot Wave AUDUSD is also falling, unfolding a nice and clear five-wave movement down from 0.7464 area. We specifically see price making a new intra-day drop down from 0.7395 level, which is the area of a completed wave iv and which now points towards new lows for the unfolding wave v of a). Support for sub-wave v can be seen around the Fibonacci ratio of 161.8/61.8.

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8/08/2018

tradinglounge.comAUDUSD Elliot Wave Chart 1 hr

23 July 2018 Elliot Wave As expected, Aussie turned nicely lower, so more and more looks like there's a big bearish triangle pattern in progress, where waves d and e are still missing, so be aware of more sideways price action this week and as long as it's trading below 0.7440, we will remain bearish.

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2/08/2018

tradinglounge.comAUDUSD Elliot Wave Chart 1 hr

17 July 2018 Elliot Wave Current sharp decline on aussie, down from 0.7446 area can be part of a bigger, bearish continuation which can take price below the 0.7366 level and towards 0.7325. That being said, we need to wait on a break below the lower channel line connected from 0.7366 level which would confirm more weakness in a five-wave manner.

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26/07/2018