Elliott Forecast - Elliott Wave View Looking for AUDUSD to Resume Lower

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Elliott Forecast

Eric Morera

Elliott Wave View Looking for AUDUSD to Resume Lower

Short Term Elliott Wave view in AUDUSD suggests that cycle from 9.30.2024 high is in progress as an impulse. Down from 9.30.2024 high, wave 1 ended at 0.6434 and wave 2 rally ended at 0.6528. Pair resumed lower in wave 3 towards 0.6176 as the 1 hour chart below shows. Wave 4 rally ended at 0.63. Internal subdivision of wave 4 unfolded as a zigzag Elliott Wave structure.

Up from wave 3, wave ((a)) ended at 0.6225 and pullback in wave ((b)) ended at 0.6194. Wave ((c)) higher ended at 0.63 which completed wave 4 in higher degree. Pair has resumed lower in wave 5 which subdivides into another 5 waves. Down from wave 4, wave ((i)) ended at 0.6128. Wave ((ii)) rally is in progress as a zigzag with wave (a) ended at 0.6207 and wave (b) ended at 0.6162. Expect wave (c) higher to end at 0.624 – 0.629 area and this should complete wave ((ii)) in higher degree. As far as pivot at 0.6302 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

AUDUSD 60 Minutes Elliott Wave Chart
AUDUSD Elliott Wave Chart$AUDUSD Elliott Wave Video
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Source:-forecast.com/news/elliott-wave-view-looking-audusd-resume-lower/

15/01/2025 1 EN

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Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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Elliott Wave View Looking for AUDUSD to Resume Lower

Elliott Wave: Copper (HG) Impulsive Rally Signals More Upside

TRV Approaches Final Stage of Impulse Structure: Anticipating a Pullback

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