AUDUSD Weekly Elliott Wave Count
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08/06/18
Just like the AUDJPY, not much has changed for the last 16 months on the AUDUSD.
From the highs of 1.10307 we have a 3-3-5 correction down to the lows of .68274 for the (A) wave. We could have a Elliott Wave Leading Diagonal for the A wave ending at .86603 but that does not change much in the overall count. From the lows the lows of .68274 we look to have a Leading Diagonal A wave ending at the .81357 highs. The correction form these highs could be over soon, or at least the blue circle a.
On the short term updates I have been calling for the circle b blue up before another leg lower in blue circle c. With a combination of the 61.8 fib, the long term trend line and the support in the .7145 area, I am not sure that is going to happen. From the highs of .81357 we can count a pretty clear 5 swings down with the current consolidation being the 6th swing so we really only need one more low to complete the correction. This low could test the levels mention above with the pair moving higher from there. Either way I thin a long would be a good play from these levels.
04/16/17
08/06/18
Just like the AUDJPY, not much has changed for the last 16 months on the AUDUSD.
From the highs of 1.10307 we have a 3-3-5 correction down to the lows of .68274 for the (A) wave. We could have a Elliott Wave Leading Diagonal for the A wave ending at .86603 but that does not change much in the overall count. From the lows the lows of .68274 we look to have a Leading Diagonal A wave ending at the .81357 highs. The correction form these highs could be over soon, or at least the blue circle a.
On the short term updates I have been calling for the circle b blue up before another leg lower in blue circle c. With a combination of the 61.8 fib, the long term trend line and the support in the .7145 area, I am not sure that is going to happen. From the highs of .81357 we can count a pretty clear 5 swings down with the current consolidation being the 6th swing so we really only need one more low to complete the correction. This low could test the levels mention above with the pair moving higher from there. Either way I thin a long would be a good play from these levels.
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| AUDUSD Weekly Elliott Wave Count |
04/16/17
I believe the #AUDUSD is completing a wave (4) consolidation and will be heading lower toward the 2009 lows of .6000.
There is also the possibility that the A leg up to .78339 is A of an ABC and the recent consolidation is a B wave triangle and the pair is headed for the .9000 area before lower. This would make the (1),(2),(3) an ABC down for a A leg and the move to .9000 a possible B leg.
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