Below are weekly and daily Elliott Wave analysis on $AUD/CAD, a pair that is not part of the 42 instrument currently covered by EWF, but the same Elliott Wave Principle and technique will be applied to analyze the pair. The same analysis is also available in written format at our technical blog. After watching the videos below, if you are interested to learn more about Elliott Wave or how we can help you, feel free to join the 14 days trial (we have free 14 days trial promotion until the end of May 2015).
Weekly Summary: In the weekly time frame, we are looking for a multi-month decline towards 0.833 – 0.8719 to complete wave x pullback, then a new bullish cycle should begin once wave x pullback is complete as far as pivot at 0.71468 stays intact. This new bullish cycle can bring the pair to a new high above 1.0783 ultimately or at minimum 3 waves higher to correct the decline from 1.0783.
Daily Summary: In the daily time frame, as far as 1.00832 pivot stays intact, we are looking for the pair to continue lower first towards 0.8998 – 0.9132 to complete wave (W). From this area, the pair should then bounce in wave (X) before lower again towards the eventual weekly target of 0.833 – 0.8719
We hope you enjoy this analysis. At EWF we offer professional-grade analysis and 24 hour coverage of 42 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames (weekly, daily, 4 hour, and 1 hour time frame), up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Click for 14 day Trial
Good luck trading.
Hendra Lau of the Elliottwave-Forecast.com Team