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AUD/USD May Recover Even Up To Parity Area

AUD/USD  extended the recovery from 0.9390 region, where we believe that temporary bottom was established.

The reason is an impulsive rise through the blue trend line, after the bounce from the wave (v)=(i) equality region.

Guest post by Gregor Horvat

As such, pair is now reversing into a higher recovery, which must be structured minimum by three legs, (a)-(b)-(c).AUD USD Elliott Wave Analysis October 6 2011

If we are on the right track, then pair may recover even up to 1.0000 region, while 0.9390 low is in place!

For more detailed technical analysis scroll down and check video that was recorded for subscribers.

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Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!