You are here: Home > articles > Elliott Wave > Elliott Wave analysis of AUD/USD for January 15, 2014
Elliott Wave analysis of AUD/USD for January 15, 2014
January 15, 2014 9:15 amVideo
Latest News
- Market Comment – Yen spikes on suspected intervention; big week awaits the dollar April 29, 2024
- Forex forecast 04/29/2024: EUR/USD, GBP/USD, USD/JPY, EUR/JPY, GBP/JPY and BTC from Sebastian Seliga April 29, 2024
- Federal Reserve encounter troubles April 29, 2024
- Technical Analysis – EURUSD attempts recovery from 5-month low April 29, 2024
- USD/JPY: trading tips for beginners for European session on April 29 April 29, 2024
- EUR/USD: trading tips for beginners for European session on April 29 April 29, 2024
- Video market update for April 29, 2024 April 29, 2024
- Technical Analysis – US 500 cash index is in the green ahead of the Fed April 29, 2024
- Technical Analysis – Gold weakens its momentum April 29, 2024
- Forecast for EUR/USD on April 29, 2024 April 29, 2024
- Forecast for GBP/USD on April 29, 2024 April 29, 2024
- Forecast for USD/JPY on April 29, 2024 April 29, 2024
- Key events on April 29: fundamental analysis for beginners April 29, 2024
- Trading plan for GBP/USD on April 29. Simple tips for beginners April 29, 2024
- Trading plan for EUR/USD on April 29. Simple tips for beginners April 29, 2024
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
AUD/USD Elliott WaveВ
After a few weeks in a choppy upward move, the AUD/USD pair moved lower yesterday, impulsive waveВ i (coloured blue) of the bigger wave (v) (coloured red) was developing. Yesterday’sВ descending movements from 0.9085 toward 0.8927 look impulsive, and that is why we are going with idea thatВ corrective wave (iv) (coloured red) is already complete cycle, final confirmation that we are on theВ right count will be break below the 0.8865 level. We should see a short-term pullback toward 50% of the cycleВ from the 0.9085 level before downward move continue, and we can use this level as ourВ entryВ point for nextВ sell against the 0.9050 level. In accordance with our wave rules and taking into account that wave 5В should retrace 161.8% of wave 4, we can define the potential targets with measuring wave 4 with takeВ profit at 0.8647 (161.8% of wave 4).
Support and ResistanceВ
(S3) 0.8823 (S2) 0.8889 (S1) 0.8926 (PP) 0.8992 (R1) 0.9029 (R2) 0.9095 (R3) 0.9132
Trading forecastВ
Proceeding from Elliot Wave rules today, the trend is expected to begin the downward movements. That isВ why short positions at 0.8995 with stop loss at 0.9050 and take profit at 0.8647 are recommended.В
В
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: