Elliott Wave AUDUSD and GOLD January 11 2016

AUDUSD

AUDUSD is now already in a potential for a 5 wave fall from recent highs. We still have not broken the latest lows when this large correction started unfolding. Currently we expect a pullback and a potential 3 wave rally to the upside. This may be a simple ABC corrective pullback and could suggest that we might see new lows on this pair soon.

AUDUSD, 1H

GOLD

Gold is in an impulsive wave up. The current wave structure suggests a potential short pullback in the red wave iv). We are still unsure if this is just an ABC on a larger time frame count, or if we will see a fully developed 5 waves up from the lows on larger time frames. For now, the price action suggests more upside levels. In the volatile times when stocks falls Gold acts as safe haven for investors, therefore the current upside is not a surprise.

GOLD, 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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