$AUDCAD Hour #ElliottWave Count

 $AUDCAD Hourly #ElliottWave Count

As mentioned here with the Daily #Elliott Wave count, I believe the AUDCAD could be heading into a strong 3rd wave.  

Looking at the hourly Elliott Wave Count the pair could be working on the first wave of that strong 3rd wave. 

The pair will need to continue moving up in a serious of 4th and 5th waves. 

$AUDCAD Hourly #ElliottWave Count

$AUDCAD Hourly #ElliottWave Count

#AUDCAD 4 HR #ElliottWave Count

AUDCAD 4 HR Elliott Wave Count

If you look at the daily chart the AUDCAD has been a series of Low Lows and Lower Highs for some time now.  At the end of December price tried to retest on of the corrective Lower Highs and was rejected with a strong move lower.  Price has now retraced about 50% of that strong move down and may be ready to head lower again. 

Another thing to note is that the currency created a nice Ascending Triangle and broke down out of that with the recent spike down.  This Triangle break measure to .8700 with a 161.8% extension of a possible 3rd wave measuring to .8660.  

This could be a nice 2-1 trade here if you are interested and can trade the pair. 

AUDCAD 4 HR Elliott Wave Count

 

#AUDCAD 4 HR #ElliottWave Count

AUDCAD 4 HR Elliott Wave Count

The Circle X wave correction could be done here at .91512and the sharp decline could be wave A or 1 of the next leg down.  I am going with one more small high and another test of the .9200 area before lower.

If we see a 3 wave bounce followed by a break of .8904 then I would look at shorting with a stop above the last Swing High.

AUDCAD 4 HR Elliott Wave Count

#AUDCAD 4 HR #ElliottWave Count

AUDCAD 4 HR Elliott Wave Count

The move down from .91412 looks impulsive so I have it labeled as circle A of y of (x).  This move up for circle B is also starting to look impulsive. As long as price holds below .91412 I will stick with the count.  If it breaks above .91412 then we may have an Irregular Flat and the (X) wave is complete and the pair is working on (y) or circle x up to the .9250 area.

AUDCAD 4 HR Elliott Wave Count

 

4 HR #ElliottWave Count on Aussie Pairs

4 HR #ElliottWave Count on Aussie Pairs

I want to take a look at all the Aussie pairs in one post here and do some comparison.  It is Obvious that the Aussie pairs are in a strong downtrend and until some critical swing highs are broken we need to continue looking lower after some corrections.  

Most of the Aussie pairs have at least tested their Sept Swing highs with the exception of the AUDNZD with that pair not even close. 

AUDCAD 4 HR Elliott Wave Count

The AUDCAD has tested its September highs of .9150 but could not break above just yet.  It may happen on the next corrective move higher but the real test will be the .9250 swing highs.

I do not see anything impulsive from the .8836 lows as of yet so I am excepting another low at some point.  Just because we do not have an impulse up yet does not mean we can not continue to correct higher. 

AUDCAD 4 HR Elliott Wave Count

AUDCHF 4 HR Elliott Wave Count

The AUDCHF did break the Sept Highs but was about 55 pips from breaking the latest Swing High.  

An Alternate count here is the this correction was over at the .6888 high and we are stating an impulse down.  I am going with the idea of one more corrective move higher to stay inline with the other Aussie pairs.

AUDCHF 4 HR Elliott Wave Count

 AUDJPY 4 HR Elliott Wave Count

The AUDJPY did break its Sept swing high and came just a few point shy of breaking its latest swing high.  In the process created what looks to be a Leading Diagonal  a wave up.  The Alt. count I have mentioned in the past is the WXY. Either way we currently have 5 waves up and still need a correction and one more high to complete the corrective move.  5 Waves is an Impulse move, 7 Waves is a corrective move.  

Because we have 5 waves up on the AUDJPY I am using that to guide my count on the other Aussie Pairs until we make another high or break below 69.96.

AUDJPY 4 HR Elliott Wave Count

AUDNZD 4 HR Elliott Wave Count

The AUDNZD has been the weakest of the Aussie pairs as it did not even come close to its Sept highs or any other swing highs.  I have relabeled this pair with the thought of a wave 4 consolidation going on now as the other correct higher.  We will see how this works out. 

AUDNZD 4 HR Elliott Wave Count

AUDUSD 4 HR Elliott Wave Count

The AUDUSD has tested and broken above the Sept swing high twice during this corrective move.  I think the real test will be the .7083 swing highs that the pair should be testing on the next corrective move higher, I not think they will break but will get tested.  

Again, because I am expecting another swing higher in the AUDJPY I am going to continue to look higher on the AUDUSD. 

AUDUSD 4 HR Elliott Wave Count

The bottom line is I am expecting another corrective swing higher on all the Aussie pairs based on the 5 wave move up in the AUDJPY.  All pairs should hold above there respective swing lows until this happens.  

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#AUDCAD 4 HR #ElliottWave Count

AUDCAD 4 HR Elliott Wave Count

There was not much of a b wave retrace before the pair headed south.  Still looking for this leg to reach the .8900 area before higher to .9250 to possibly complete this correction.

AUDCAD 4 HR Elliott Wave Count

#AUDCAD 4 HR #ElliottWave Count

AUDCAD 4 HR Elliott Wave Count

This sideways move in the AUDCAD is getting messy.  Since the low of .88356 the pair had a complex (w) wave up that has been followed by a 2 month sideways (x) wave.  This (x) wave may play out for a little longer as it completes wave c of y of (x).  I will be looking for the circle b wave to end its retrace around .9100 before the C wave down. 

AUDCAD 4 HR Elliott Wave Count

  

#AUDCAD 4 HR #ElliottWave Count

#AUDCAD 4 HR #Elliott Wave Count

With the Divergence on the Awesome Oscillator I am thing the AUDCAD is nearing the end of wave i up with wave ii retracing to the .9150 area before higher.

Another bullish view would be that the pair is just neding the circle 3 wave and we could still see a small pullback/consolidation before one more high to complete the wave i.

I reamin bullish as long as the pair holds above .9073.  A break above .9397 may indicate the new uptrend has begone.

AUDCAD 4 HR Elliott Wave Count  

AUDCAD 4 HR Elliott Wave Count