Tag Archives: AUD

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…

EUR/AUD M Double Top Shaping Up

Nenad Kerkez

The EUR/AUD is making a progressive M pattern characterized by a double top which in turn makes a POC zone (H3, DPP, trend line) 1.4340-50. The move has already happened so any retest could reject the price again (2nd rejection). Ideally inner trend line should hold for continuation of bearish move. Further continuation is seen below the inner trend line and if H1 candle closes below 1.4280. Close below would target 1.4245 and h4 close below 1.4245 should aim for 1.4185. more…

AUD/JPY T-89 Pattern Suggesting A Possible Bounce

Nenad Kerkez

The AUD/JPY pair spiked after a V shaped reversal at the bottom spiking up to 80.30, slightly below H3 camarilla pivot. Now moment price action is showing a completed T-89 pattern right off L4 support where we can see a confluence zone (L4, 38.2, T-89). Since T-89 has been completed we might see a bounce off 79.70 too towards 80.40 and 80.80. Only if the price breaks 80.80 it will make an ascending scallop towards 81.30. Ideally the price should stay above L4 in order for the price to remain bullish. more…

AUDJPY Low Volatility Zone Keeping The Pair Below Resistance

Nenad Kerkez

Equities is ranging, and most indices are on strong support, if they drop again then JPY pairs could drop a lot (more JPY strength). SP500 below 2040 is very bearish and DAX below 9800 is very bearish too. Additionally – RBA is signalling more rate cuts. Once this happens money will go back into JPY and we will see a stronger JPY again. Also it is very important to keep an eye for FOMC meeting today. 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…

AUDJPY Bearish Divergence Could Bring Risk-Off Sentiment To The Fore

Nenad Kerkez

Commodities and Equities prices have rebounded from their interim lows of Early February 2016, and it has resulted with strong gains across these markets. Clearly this has been a risk-on scenario, causing AJ to be bullish during this period as well. Equities are reaching key resistance levels and are showing signs of market fatigue by the End of this Quarter and Month. This shows that risk-off sentiment may come back to the fore, meaning it could be a nice setup for a short position on AJ. more…

EURAUD Strong Downtrend Continues

Nenad Kerkez

This week we have the ECB meeting, with analysts predicting further forms of QE by reducing deposit rates, which should weaken the EUR. Of recent, we’ve seen Commodities prices rebound, in particular Iron Ore, Copper, Gold, OIl (and coupled pricing on LNG), all key exports of Australia, causing AUD to appreciate. On this basis, should commodities prices continue to recover and ECB introduces further QE then EURAUD will proceed below our daily target that is 1.4650 and might extend to 1.4350 that is clearly seen on daily chart with a strong T-89 pattern rejection. more…