In this technical blog we’re going to take a quick look at the past Elliott Wave charts of AUDUSD published in members area of www.elliottwave-forecast.com. As our members know, AUDUSD have had incomplete bullish sequences in the cycle from the 12/08 low, suggesting further strength. Consequently, we advised our members to avoid selling the pair and keep on buying the dips in the sequences of 3,7,or 11 swings against 01/09 low whenever there was an opportunity to do so.
Let’s take a look at the previous short term Elliott Wave forecasts.
AUDUSD 1 Hour Elliott Wave Analysis 1.23.2018
As we can see on the charts bellow, we have had ended short term cycle from the 12/08 low as 5 waves structure wave ((a)). Currently about to complete a wave ((b)) pull back which has reached inner equal legs at 0.79667-0.7951 (buying zone). The pull back has unfolded as Double Three ( 7 Swings structure ) : (w)(x)(y). In the mentioned area (blue box) buyers should appear for further rally ideally or 3 wave bounce at least which should allow us to get out risk free shortly. We don’t recommend selling it against the main bullish trend. Invalidation for the long trades is break below 1.618 Fibonacci extension : 0.7928 level.
AUDUSD 1 Hour Elliott Wave Analysis 1.30.2018
AUDUSD found buyers at the blue box and completed pull back at 0.7954 low. Now the pair is trading higher within cycle from the 12/08 low and as a result members are enjoying profits with risk free positions. Short term analysis suggests we can still doing (x) short term pull back that can give us another leg lower. If it reaches the proposed blue box at 0.8045-0.80312 it should offer another buying opportunities for intraday traders.
AUDUSD 1 Hour Elliott Wave Analysis 1.30.2018
We got proposed a leg lower and buying zone has been reached at 0.8045-0.80312. Buyers appear there as expected and we’re getting a nice reaction so far. All the long positions should be risk free now.
Keep in mind market is very dynamic and short term view could have ended in meantime. If you’re interested in new Elliott Wave forecasts of AUDUSD and trading setups you can find them in the membership area of EWF.
Elliott Wave Forecast
We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial now and get access to new trading opportunities.
Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free, shortly after taking it.
Welcome to ElliottWave-Forecast.com !
