Search ForexCrunch

AUDUSD

AUDUSD keeps moving higher probably in an impulsive fashion if we consider the strong rally from 0.7107. It also looks like an extended wave which typically occurs in the middle of a five wave move, so we suspect it’s wave 3 of three. At the same time we can see that the price traded close to 261.8% Fibonacci extension level of wave 2 which is very common Fibonacci projected ratio for wave 3. That said, we think that the Aussie can rise even more in the days ahead, but after a pullback which is now underway it seems, possibly back to around 0.7330.

AUDUSD, 4H

audusd 4

 

E-mini S&P500 is again at the highs, making a progression within wave C)/3) which is an impulsive leg so it has to be made by five waves. At the moment, we see a price in minor pullback so more gains should follow in the sessions ahead. We are looking up to the 2030 area now while 1920 level holds.

S&P500, 4H

SNP 4