AUDJPY and NZDUSD Elliott Wave Analysis


Good day traders!

AUDJPY is now trading at the upper channel line and completing possibly sub-wave three of higher degree wave C. We see a five-wave structure in play, that can see limited upside near the upper channel line and there make a new three-wave drop lower. A reversal in five waves would suggest a completed wave C and more weakness ahead.


NZDUSD is unfolding a nice bullish impulse within wave C, as part of a higher degree three-wave recovery. We see a five-wave structure in the making, with price trading within an extended blue wave v. This blue wave v also has five-wave waves, and current wave that is unfolding is sub-wave iv), that can see limited downside near the Fibonacci ratio of 50.0 or 61.8.


Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

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About Author

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 His feature articles have been published on,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc. He recently won the award on 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!

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