HomeContributorsTechnical AnalysisElliott Wave Analysis: Aussie Pushing Higher

Elliott Wave Analysis: Aussie Pushing Higher

AUDUSD is unfolding a bigger bullish impulse since May of 2017. We see an overlapping activity within first wave 1), folowed by a minor correction within red wave 2) and now a strong and sharp wave 3), which looks to have found a top near the 0.8100 region. That said current wave 4) may unfold a minor three wave setback as in a A-B-C manner and can search for support near the Fibonacci ratio of 38.2. Once wave 4) fully unfolds, a new push higher into red wave 5) may start to unfold.

AUDUSD, 4H

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Learn Forex Trading

Trading Sessions

Forex Trading Psychology

Supply and Demand Trading

How to Trade Using Oscillators