USDCAD and AUDUSD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Jul 24, 2014
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USDCAD still trapped in a sideways price action within fourth wave that can be a triangle, but in that case swing lows from wave a) and c) must hold. At the same time, keep an eye on 1.0757 swing, move above it will open door for 1.0800.

USDCAD 1h Elliott Wave Analysis

USDCAD 1-Hour Elliott Wave Analysis Chart

AUDUSD hit 78.6% retracement level and is now reversing from the highs. I am still looking at rally from 0.9327 as a three wave retracement, which means that bears remain in the card, but would love to see that impulse down through 0.9378 and 0.9360 to make sure that we are on the right track.

AUDUSD 1h Elliott Wave Analysis

AUDUSD 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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