Elliott Wave Analysis on AUDUSD and NZDUSD

AUDUSD

AUDUSD is currently falling from highlighted resistance levels (around the formal wave four) as displayed on the chart. We marked the highs of this pullback as the black wave 4 so the pair should move lower to complete wave 5 sequence in the next few sessions. Support for this move down are around 0.7250/80 levels.

Invalidation level is at 0.74466, as long as it holds we are looking to the downside.

AUDUSD, 1H

NZDUSD

For now the 4h structure on the NZDUSD pair looks quite nice, as the price made an impulsive move to the downside, breaking the channel line, thus suggesting the possibly wave one has unfolded as a part of a new bearish cycle that can face a contra-trend move in the next few sessions. The pullback is in wave two with resistance near the lower channel line around 0.688/0.691 zone. For now only wave A has shown up, so a more slow and choppy price action can be in the cards, as waves B and C are still missing.

Invalidation levels is at 0.70533-as long as it holds, we are looking to the downside.

NZDUSD, 4H

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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