AUDUSD climbed to 0.8136 in January, but similarly to other major currencies, spent the rest of 2018 declining against the U.S. dollar. The pair fell to 0.7021 on October 26th, but recovered to 0.7338 on November 16th. As of this writing, the Aussie trades at 0.7267 versus the greenback. Should we expect the downtrend to…
AUDUSD: A Bearish Omen Half a Century in the Making
AUDUSD climbed to 1.1079 in July 2011 and has been steadily declining ever since. In mid-January 2016, the pair fell to as low as 0.6826 and as of this writing it is still in the doldrums, hovering around 0.7560. After a 38% crash in less than five years, one might think it is time for…
AUDUSD: Happy Giveaway Subscribers
AUDUSD is trading above 0.7550 after recovering from the bottom at 0.7144 registered on May 24th. A rally of more than 400 pips is surely making the bears nervous, especially following the sharp sell-off from 0.7835. This is an excellent example of the fact that traders should never rely solely on the continuation of a trend,…
AUDUSD Ahead of the RBA Decision
AUDUSD was flying above 0.7830 just two weeks ago. On April 21st the pair rose to 0.7834 and everything was looking as if sky was the limit for the bulls. Today, May 4th, AUDUSD plunged to 0.7460 so far. According to the majority of experts, the obvious explanation for the current weakness is the surprising…
AUDUSD, Just One Day Later
Yesterday we posted an article, called “AUDUSD Bulls Aiming Higher”. We thought the pair has the potential to grow, because we recognized something on its 15-minute chart. A five-wave impulse to the upside, followed by a three-wave retracement. See it below. We saw a nicely-looking 5-3 wave cycle. According to the Elliott Wave Principle, the…
AUDUSD Bulls Aiming Higher
Elliott Wave patterns can be found on all degrees of trend, even on the smallest time frames. The AUDUSD exchange rate seems to be giving us a good example. If we take a look at its 15-minute chart, we could see something very familiar – a 5-3 wave cycle. As the chart shows, AUDUSD rose…
AUDUSD Short Term Pull-Back
AUDUSD rose sharply from 0.76 to 0.7818 yesterday. If we take a look at this rally on a 5-minute chart, we will see that it has a perfect five-wave impulsive structure. According to the Elliott Wave Principle, today’s decline is part of a natural three-wave retracement, which follows every impulse. Once the correction is over,…
Is AUD USD Forming A Major Bottom?
AUD USD made its last top at 1.1080 in the end of July 2011. These figures have remained untouched for more than three years, since the rate has declined by more than 25 cents to as low as 0.8540. However, no trend lasts forever, so we might want to examine the wave structure of AUD…
AUDUSD in corrective mode
It looks like the downtrend in AUDUSD still has room to develop, because on the 15-min chart there is a clear five-wave structure, also known as an impulse. According to the Elliott Wave Principle, every impulse is followed by a three-wave correction in the opposite direction. Then the trend is expected to resume in the…
AUDUSD with a textbook Elliott Wave setup
AUDUSD lost more than 500 pips since the beginning of July. “Should we expect a reversal or the decline is set to extend?” is what probably every trader is asking. “If this is the correct count, the 0.91 zone could be revisited, before the uptrend resumes in wave (3/C).” It was 3rd July, when that…
AUD USD could fall some more
The AUDUSD currency pair fell by more than 100 pips during the last two days. This forecast suggests that the weakness is not over. Traders may benefit from reading it. The important thing, when making an Elliott Wave analysis, is to start from the correct top or bottom. If you are going to count a…
AUD USD, bears are getting stronger
It was 3rd July 2014, when we said that AUDUSD begins a corrective decline. Things have been going according to plan so far, with the AUD USD exchange rate down by more than 250 pips. However, it seems like there is still a lot of weakness ahead. R.N.Elliott described third waves as “wonders to behold”.…
AUD USD with the desired behaviour
On July 24th, we showed you a forecast of the AUD USD currency pair, saying that “we expect another sell-off in AUD USD soon. The minimum targets are below the bottom of 0.9326, while the count would be invalidated, if prices go above 0.9504”. This statement was based on the chart below. According to The…
AUDUSD to regain negative bias
On the hourly chart of AUDUSD we can see the typical 5-3 Elliott Wave cycle. The interesting thing is in the shape of wave C of (2)/B – it is an expanding ending diagonal. All of its characteristics are the same as in the regular ending diagonal except of its shape. Instead of contracting, the…
AUDUSD begins a corrective decline
On the 4-hour chart of AUDUSD there is a clear five-wave impulse to the upside. Starting from the 0.8650s, it seems that the rally is temporary limited to 0.9504, where the ending diagonal in the position of wave 5 seems to have ended. According to the Elliott Wave Principle, after every five waves, a three-wave correction should be…
