Category Archives: AUD/USD

Dollar Shines In An Eventful Week In US Politics

Fawad Razaqzada

Contrary to most analyst predictions, including ourselves, the US dollar looks set to close the week higher after an eventful week in US politics. The greenback has surged higher against most currencies except the British pound, which has been supported by the Bank of England dropping its dovish bias amid concerns about overcooking inflation in the UK. In contrast, the euro, yen, Swiss franc and all the commodity majors have slumped versus the dollar. The Canadian dollar has resumed its downward trend amid slumping oil prices, weak domestic data and on the back of a dovish Bank of Canada. Elsewhere, the Reserve Bank of New Zealand cut interest rates in mid-week and warned of more easing steps due mainly to a strong currency and the kiwi has correspondingly sold off. more…

Elliott Wave Analysis On Copper And The AUDUSD; More Weakness Could Be In For BOTH

Gregor Horvat

Copper is under bearish pressure for the last few weeks, currently testing an important support line connected from December 2015 low, which can be broken if we consider that A-B-C-D-E triangle can be finished. If that’s the case then current decline down from 2.2200 will be an impulsive leg, first wave as part of a bigger impulsive bearish cycle that will take price below 2015 levels. We expect a breakout while 2.1488 remains in place. more…

AUDUSD: Possible Turning Point Around 0.7500

Gregor Horvat

AUDUSD has turned down from 0.7834 high in May after wave C-circled completed a big corrective wave IV flat pattern. A flat has a 3-3-5 sub-waves, so it’s a contra-trend movement that should send price back to the lows. So far, market made a very good and strong bearish turn to 0.7130 with clearly impulsive personality, thus we believe that big black wave V is underway. more…

Elliott Wave Analysis On GBPUSD And AUDUSD

Gregor Horvat

able is not showing us any clear and strong bearish waves yet, so market can still be in intraday consolidation phase. We are looking at an expanded flat in wave 2) which may look for resistance after wave C, near 1.4540-1.4570 area. If from any reason price will decline sharply to 1.4300 then this could be considered as wave three in progress. But anyhow, we think that sooner or later cable will fall to much lower levels while it trades beneath 1.4769. more…

AUDUSD Triple Top Holding The Price

Nenad Kerkez

The light volume and lower volatility made AUDUSD possible trade bidirectionally. The initial rebound from 0.7050 made 30 pips initially as suggested on previous Session Recap webinar followed by a decline caused by investors dumping assets. Today’s FED’s chief Yellen testimony could be volatile and that is why I recommend caution. The testimony has been scheduled for 15:00 GMT. As head of the central bank, which controls short term interest rates, she has more influence over the nation’s currency value than any other person so pay attention to subtle clues about future monetary policy. more…

More Weakness Ahead On AUDUSD

Gregor Horvat

AUDUSD is finally turning lower with a very aggressive and impulsive price action from 0.7384 where pair might have reached a top of wave 4) if we consider also a broken channel support line of wave C. As such, traders must be aware of even more weakness in days ahead, especially after black wave 2 pullback that can be very interesting for shorts. more…

AUDUSD : Correction Within Downtrend

Gregor Horvat

AUDUSD stays bearish as rally from 0.6900 was made in three waves, but based on latest price action we suspect that wave 4) will be much more complex than at first sight. We are looking at a triangle now that is placed within a downtrend of a blue wave (5) that will extend to around 0.6700 by the end of the year. After that we will look for a bullish reversal that could take place in 2016. more…