Sunday, April 16, 2017

#AUDUSD 4 HR Elliott Wave Update

#AUDUSD 4 HR Elliott Wave Update


The 4 hr Elliott Wave Update is showing the move down from the possible wave (4) high.  It is possible that the spike up I have labeled as  wave ii is wave 4 of a 5 wave move down.  For the to be true it would have to reverse now and create a new low below  .7475.  

The count I am showing on the chart is a nested 1-2,i-ii and would be invalid at .7679.  Breaking .7679 would bolster the idea that the pair is heading higher to .9000.

AUDUSD 4 HR Elliott Wave Chart