Saturday, July 20, 2019

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