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Aud/Usd Intra-day: More Strength To Come

Aud/Usd moved lower during Asian session, driven by lower stocks prices and formed a clear corrective decline from 1.0181 region, called a double zig-zag pattern in wave 4. Bottom of this choppy overlapping structure should be very near, so no doubt, new highs are expected!Guest post by  Gregor Horvat

Traders must be aware that corrections always appear against the larger trend, which is definitely bullish on Aud/Usd. Upside targets around 1.0250 should open once the upper side of a corrective channel is broken

1h chart:

aud to usd november 9

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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!