Twenty days ago, EURAUD managed to stop the bleeding and form a bottom at 1.5976. As of this writing the pair trades around 1.6250 after reaching 1.6324 on November 20th. Is the uptrend still in progress or should we prepare for the bears’ return? A look at EURAUD ‘s hourly chart through an Elliott Wave…
GBPAUD Elliott Wave Setup Supports the Bears
Between July 30th and August 26th, GBPAUD managed to recover from 1.7561 to 1.8337. Despite the no-deal Brexit prospects, the Australian dollar turned out to be even weaker than its British rival for almost a month. However, GBPAUD is down by roughly 400 pips since August 26th. Traders are probably wondering if this is a…
GBPAUD Recovery Interrupts Larger Downtrend
Life has been tough on GBPAUD bulls recently. The pair reached a two-year high of 1.8733 on October 11th, but failed to maintain the uptrend. On December 3rd, the Pound fell to 1.7210 against the Australian dollar – a crash of over 1500 pips in less than two months. As of this writing, the pair…
EURAUD Bears Getting Tired. Bullish Reversal Ahead?
With only one day left, the Euro seems poised to end November in positive territory against the U.S. dollar, following a sharp decline in October. Unfortunately for the bulls, the European currency is still losing to some of its other rivals this month. EURAUD, for example, is down by over 460 pips since the start…
AUDUSD Looking for Support near 0.7160
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…
AUDCAD Bulls Not Giving Up on Their Parity Dreams
Nine days ago, while AUDCAD was trading at 0.9820 on June 20th, we found a textbook 5-3 Elliott Wave pattern on its hourly chart, which suggested the bulls were going to lift the pair to parity in the next couple of weeks. And indeed, a rally occurred shortly after, but the resistance near 0.9930 did…
AUDCAD Paving the Elliott Wave Road to Parity
Yesterday, we wrote about a pattern spotted on the chart of the Australian dollar against the New Zealand counterpart. Today, the Aussie is once again in focus, but this time against another one of its major rivals – the Canadian dollar. AUDCAD fell from 0.9935 to 0.9739 in just ten trading days this month. But…
AUDNZD Bears Bumping into Fibonacci Support
Earlier this month we published an article about AUDNZD, sharing two slightly different, but both bullish counts, which are supposed to eventually lift the pair to 1.1500 or higher. It is too early to say how this is going, but at least the short-term outlook seems to support the bigger picture. AUDNZD has been declining…
AUDNZD Bulls Have a Decision to Make
It has been almost two years since we examined the weekly chart of AUDNZD and concluded that the pair was likely to “Throw a Surprise Bulls Party”. And indeed, the Australian dollar managed to climb to 1.1290 against the New Zealand counterpart by October 2017. Unfortunately, that was the best the bulls were capable of…
GBPAUD On a Slippery Slope Towards 1.53
If you take a look at how GBPAUD has been doing between October 2016 and March 2018 you might think Brexit never happened. The British pound rallied from as low as 1.5322 to 1.8509 against the Australian dollar, gaining almost 21% in those 18 months. As of this writing, the pair is hovering around 1.7720,…
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…
GBPAUD Plunging Like There is No Tomorrow
It has been a little over a month since GBPAUD reached 1.7650 on May 10th. The day before, May 9th, we published “GBPAUD About to Change Direction”, sharing our Elliott Wave-based opinion, that instead of joining the bulls above 1.7600, traders should stay aside and get ready for a major bearish reversal. Here is the…
GBPAUD About to Change Direction
The GBPAUD exchange rate climbed to levels not seen since September, 2016. The pair is currently trading close to 1.7600, nearly 19 figures above the bottom at 1.5757 registered in October last year. Rising prices could be tempting, but also dangerous. In fact, the daily chart below suggests the British Pound is at a critical…
AUDNZD Navigating Through Elliott Waves
AUDNZD was trading close to 1.0730 on February 21st, after a strong recovery from as low as 1.0324. Despite the speed and sharpness with which the pair was rising, the Elliott Wave Principle suggested the bears were likely to “drag the rate back down to the area near 1.0600, where new long opportunities should present…
AUDNZD Accelerated Fast. Time to Rest?
AUDNZD bulls got their revenge after months under bearish oppression It has been just 15 days since the last time we wrote about AUDNZD. On February 6th, the pair was trading around 1.0480, but we thought it was unlikely to remain there for long, because, as the chart below will show, our Elliott Wave analysis…
