Tag Archives: AUD

AUD/JPY Bearish Zig Zag Pattern Aiming For 85.35 If 86.25 Holds

Nenad Kerkez

The AUD/JPY could reject from the POC zone 85.90-95 (50.0, W L5, EMA89, D H3) and as long as 85.18-25 holds we might see a drop towards 85.50 and 85.35. Only if we see a 4h or 1h momentum close below 85.35 the pair might target 85.05 and 84.56. Have in mind that the AUD/JPY is a bi slow moving pair so it might take some time to get to its final target. At this point the focus is on the POC zone more…

AUDUSD Looking For More Weakness

Grega Horvat

Around early of September of 2017, AUDUSD completed a higher degree complex correction within wave IV. This correction ended with a five-wave drop towards the 0.7650 level, which can in months ahead result as a bigger bearish cycle. Well, this fall gives us an idea of a change in trend from bullish to bearish and can be labeled as red wave 1), that can find potential support near the 0.7562 level and from there breach higher into corrective wave 2). more…

AUD/JPY Drops On Worse Than Expected CPI

Nenad Kerkez

The Australian CPI rose 1.8 percent for the year which was lower than 2 percent expectation. The data hurt the AUD and it made a direct drop to W L4 with an extension to 87.78. At this point shorting on rallies is the option. Short term scalps could come around 88.08 while positional short trades could come at the POC zone 88.25-40 (D L4/L5, W L3, Order block, EMA89, trend line,atr pivot, 50.0 Fib). more…

AUDUSD Support At 0.7815

Daud Bhatti

AUDUSD Short Term Elliott Wave view suggests that Primary wave ((W)) ended at 0.7731 on October 6th low. Up from there, Primary wave ((X)) is currently unfolding as a double three Elliott Wave structure. Intermediate Wave (W) of ((X)) ended at 0.7807 and Intermediate wave (X) of ((X)) ended at 0.7815. Near term, while pullbacks stay above 0.7815, but more importantly above 10/6 low at 0.7731, expect pair to extend higher. At this stage, pair still needs to break above Intermediate wave (W) at 0.7815 to give more validity to this view. Until then, we can’t rule out a double correction in Intermediate wave ((X)). more…

Expect AUDJPY To Extend Lower Towards 87.37

Daud Bhatti

AUDJPY Short Term Elliott Wave view suggests that the rally to 90.31 ended Intermediate wave (W). Intermediate wave (X) pullback remains in progress as a double three Elliott Wave structure. Down from 90.31, Minor wave W ended at 88.44 and Minor wave X ended at 89.68. Minor wave Y is unfolding also as a double three Elliott Wave structure. Minute wave ((w)) of Y ended at 88.23 and Minute wave ((x)) of Y is proposed complete at 88.89. Near term, while bounces stay below 9/25 peak at 89.69, expect pair to extend lower towards 87.37 – 87.8` area to complete more…

AUDUSD Daily And 4h Look

Grega Horvat

AUDUSD is unfolding a bigger bullish leg to the upside, which can be labeled as a higher degree wave C. This wave C can be part of a bigger three-wave recovery, that is unfolding since November of 2015 (visible on the daily chart). However, we belive this big three-wave recovery may be ending, which means upside can be limited and a new change in trend can follow more…

AUDUSD Elliott Wave Analysis

Daud Bhatti

Revised short term AUDUSD Elliott Wave view suggests the rally from 5/9 low is unfolding as a leading diagonal Elliott Wave structure. Up from 5/9 (0.7325) low, Minute wave ((i)) ended at 0.7517, Minute wave ((ii)) ended at 0.7368, and Minute wave ((iii)) ended at 0.7566. Minute wave ((iv)) pullback is currently in progress to correct cycle from 6/1 low in 3, 7, or 11 swing before pair resumes higher again. more…

AUD/USD Slow Zig-Zag Towards 0.7580

Nenad Kerkez

As we could see on yesterday’s Live Trading webinar, straight after our live trading session, the AUD/USD has rejected and made pips in the bearish direction. That was a counter trade opportunity we had, but today the AUD/USD might proceed with the trend. The POC zone is 0.7510-20 (D L4, ATR pivot, bullish order block, EMA89) and if we see a retracement, the pair might reject from the POC zone targeting H3 and H4 camarilla pivots. 1 hour candle close above 1.7568 might target 1.7586 and further 0.7617 on a stronger momentum push. Have in mind that the ATR (range) of the pair is small, only 57 pips so 0.7580 zone is looking more realistic should the bullish momentum prevail. more…

AUD/USD Bullish Wicks Mark New Wave Of Buyers

Nenad Kerkez

The AUD has been rebounding of late, with stronger Employment numbers for the month and a reduction in the Unemployment Rate to 5.7% as it approaches full employment. Interestingly, the MI Inflation target is 4% for the next 12 months, which may signal rate hikes in the near future. USD weakness continues, and the USD Index looks destined a bit lower, with lower manufacturing numbers, but with all other indicators relatively stable, the concerns lie with whether Trump can now deliver on his Tax cut promises for the next boost to the US economy. more…