rounded corner
rounded corner
top border

Elliott Wave Analysis: GOLD and Aussie Looking Lower


Bookmark and Share

Good day traders! Let's take a quick peak at gold and AUDUSD.

First comes gold.

We see the precious metal turning bearish since a probable top was found at resistance slightly above 1300 mark. Decline is quite sharp since then and impulsive so more weakness is expected this week, especially after any short-term recovery(wave two in particular).

If you want to receive daily updates for DAX, S&P500 and FX pairs then I invite you to look inside of our members area for the next 2 months with special discount offer -50%.

GOLD, 1H

gold, 1h

More weakness on metals may put more downside pressure on Aussie as well, which has five waves down from 0.7895, so there is room for 0.7770 in the near-term and even lower after-that.

AUDUSD, 1H

audusd, 1h..

Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.



Recent articles from this author



About the author


Grega Horvat

 

 

  • Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, 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 www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple 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!


Gregor Horvat
Chief  Technical Strategist
Website: http://www.ew-forecast.com/
Skype: ewfservice

Twitter: http://twitter.com/ewforecast
Email: info@ew-forecast.com

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2018 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy