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AUDUSD is sideways, but still above 0.7313 support so our view remains bullish for the next few sessions as we believe that the pair has accomplished wave X pullback that is part of a double zig-zag in fourth wave. We see a nice technical area at 0.7500 where upside could be limited. If this area will be seen then we will be considering shorts later this week.

AUDUSD 1h Elliott Wave Analysis

AUDUSD Elliott Wave August 10 2015 technical forex analysis for currency trading

 

On Gold we are observing a corrective rally that is still headed higher within wave iv) rally. We see the price breaking higher; out of a wave b triangle so the market can reach the 1110 area before a bigger downtrend will continue this week. If from any reason price would fall back beneath 1080 then we will looks straight down into wave five, targeting 1060.

GOLD 1h Elliott Wave Analysis

 

GOLD Elliott Wave Elliott Wave August 10 2015 technical forex analysis for currency trading

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