Today’s analysis is about AUDUSD and its daily and 4h time progress. We can see that the Aussie is trading in a bigger three-wave correction , since November of 2015 when a higher degree impulsive wave III had ended. The current choppy and overlapping price activity is now labeled as an ongoing corrective wave IV, that can be trading in the final stages. We can see sub-waves A and B already completed, which means the current bullish sharp movement is sub-wave C, that can end near the Fibonacci ratio of 50.0 and near previous swing high at 0.8161 level. From the mentioned region, a new reversal lower could come in play. AUDUSD, Daily On the 4h chart, we have a closer look of sub-wave C. We know that wave C is a motive wave, which means it must have a five wave structure. We can see three of those five needed sub-waves completed, which means minor wave 4) can now be in action. Wave four is a temporary corrective wave, which means a minimum three wave reversal can be in progress with a potential support zone coming in at 0.7880-0.7900 area. From there a new push higher into sub-wave 5) of C can follow. AUDUSD, 4H 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! View All Post By Gregor Horvat Daily Look share Read Next BOE votes 6:2 against a hike – GBP crashes Yohay Elam 6 years Today's analysis is about AUDUSD and its daily and 4h time progress. We can see that the Aussie is trading in a bigger three-wave correction , since November of 2015 when a higher degree impulsive wave III had ended. The current choppy and overlapping price activity is now labeled as an ongoing corrective wave IV, that can be trading in the final stages. We can see sub-waves A and B already completed, which means the current bullish sharp movement is sub-wave C, that can end near the Fibonacci ratio of 50.0 and near previous swing high at 0.8161 level. From… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
