Saturday, July 20, 2019

#AUDUSD 4 HR #ElliottWave Count

AUDUSD 4 HR Elliott Wave Count

It looks like we may have wave 1 of wave iii of (iii) complete and wave 2 is underway.  This count would be invalid with a move below .69955.  If this does happen then I may reconsider the bullish count.

My first target up is .7340 which would be two equal wave up.  After the target is reached we will see how it is subdividing then and what the pullbacks are looking like.  The alternate count is an ABC up for a wave 2.

AUDUSD 4 HR Elliott Wave Count
AUDUSD 4 HR Elliott Wave Count



#AUDCHF 4 HR #ElliottWave Count

#AUDCHF 4 HR #ElliottWave Count

I do believe we have a completed impulse up from the .6750 low for a wave (i).  This is followed by a 3 wave pullback for a possible wave (ii).  Up from this wave (ii) looking to be a Leading Diagonal for another wave i with wave ii in progress.  A move below .6857 would invalidate this count and put the expanded flat ABC in play for wave (ii).

I will remain bullish on this pair until .6748 is broken.  

AUDCHF 4 HR Elliott Wave Count

AUDCHF 4 HR Elliott Wave Count
AUDCHF 4 HR Elliott Wave Count

AUDNZD 4 HR Elliott Wave Count

AUDNZD 4 HR Elliott Wave Count

As I mentioned in another post, Elliott Wave correction are in 3,7 and 11 swings.  The AUDNZD had 7 swings down at the beginning of July but that low was taken out this week.  With that low taken out we now have 9 overlapping swings.  Because of this I am looking for the pair to do a 3 wave bounce that holds below the X wave high of 1.05446.  This should be followed by another swing lower taking out this low.  I am thinking somewhere in the 1.0350 area could be a good place to grab more longs.

A break of 1.02763 would invalidate this count and my bullish view.

AUDNZD 4 HR Elliott Wave Count

 
AUDNZD 4 HR Elliott Wave Count
AUDNZD 4 HR Elliott Wave Count


#EURCAD Weekly #ElliottWave Count

#EURCAD Weekly #ElliottWave Count

A correction in Elliott Wave happens in 3,7 or 11 swings while impulse waves are 5,9,13 ect.  On the Weekly EURCAD chart we can see 5 swings up from the Aug12, 2012 low of 1.2130.  I have marked these swings with the green numbers.

With the 5 overlapping swings up from the low, we could have a leading diagonal A wave complete with a B wave in progress.  I don't not think that is the case because the 5th wave barely broke above the 3rd wave and it just doesn't have the right look for me.

If that 5th swing is not wave 5 of the Leading Diagonal then it most be a of  Y as I have it labeled. Either way I see more upside in the EURCAD after this 6th swing or b wave is completed.  The minimum upside target is 1.6150.

EURCAD Weekly Elliott Wave Count

EURCAD Weekly Elliott Wave Count
EURCAD Weekly Elliott Wave Count