Tuesday, April 18, 2017

#AUDUSD 4 HR Elliott Wave Update

#AUDUSD 4 HR Elliott Wave Update

Trade Thoughts:  Short against .7679

Targets:  Wave III target will be just below the .7300 level and possibly .7200.  Longer term target are closer to .6000.

It looks like the AUDUSD is ready to start wave III lower already.  A break of .7475 would strengthen that idea.  If you look at wave i on a smaller time frame you can see a nice 5 wave impulse down.  

AUDUSD 4 HR Elliott Wave count

AUDUSD 4 HR Elliott Wave count

AUDUSD 4 HR Elliott Wave count