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Home Contributors Technical Analysis Aussie and Copper in for Weaker Prices – Elliott Wave Analysis

Aussie and Copper in for Weaker Prices – Elliott Wave Analysis

Aussie is currently turning down from the first 0.73 resistance. Move is quite strong, so it can be considered as a resumption of the downtrend into a much lower wave c. However, the US sessions can be very tricky, and in a lot of cases can cause a new intraday flow with failure moves. As such, more complex wave B should still be considered I think, but sooner or later aussie will be lower, and maybe this will be the case when copper shows a top in wave 5 up here.

AUD/USD, 30Min

Copper, 4h

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