Elliott Wave Analysis: EURUSD, AUDUSD March 15 2017

Today we have an important meeting at 18.00GMT when the FED may finally raise rates again. So, for now markets may stay calm, but expect very volatile moves after the rate decision and later during the press conference. EURUSD ticker will be tracked very closely, where the technical picture suggests that we may see a move down as the drop from 1.0715 can be the start of a bigger decline. As such, watch for a resistance level in current wave ii) near 1.0650 and 1.0670.

EURUSD, 1H

AUDUSD also shows potential bearish scenario as a rise from March 09 low can be a corrective move; ideally wave 2 that may seek reversal at 0.7632; at the former swing high of wave four that typically represents a reversal point.

AUDUSD, 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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