Elliott Wave Analysis AUDUSD and GBPUSD December 9 2015

AUDUSD

USD is mixed across the board this week; we can see a rise against AUD but it’s weakening against the EUR and GBP. We are still paying a close attention to AUDUSD, which we think could be interesting for shorts in the coming days. However, pullback is still not here, but we will wait patiently for levels around 0.7280 and possible shorts later this week.

AUDUSD, 1H

GBPUSD

GBPUSD bounced from around 78.6% Fibonacci retracement level where the pair might finally accomplish wave B retracement down from 1.5160 that belongs to a bigger ongoing corrective rally. As such, we need to be aware of a continuation upwards in the next 24 hours, as wave C can be in the cards for a move back to 1.5160 after recently braking the channel line.

GBPUSD, 1H

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!

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