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NZDUSD, GOLD and AUDUSD Intra-day Updates


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Good day traders! Hope everybody is having a great time. Todays subjects are NZDUSD, Gold and AUDUSD.

Let's dig in.

Our main focus today is on NZDUSD especially since pair made only three wave rally up to 0.6916 yesterday, which means it was an intraday correction that should take us lower. Ideally, new drop will come from current levels, but there is also a chance of a triangle in fourth wave. In both cases, however, its only question of time, when new breakdown will occur, not if anymore.

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NZDUSD, 1H

nzdusd, intra


Lower metals may help cause more weakness on AUD and NZD. IN fact, that decline yesterday from around 1289 appears impulsive so it suggests more downside into wave d, ideally towards the lower side of a contracting range, to 1268/1270. At the same time Aussie can then reach a new low around 0.7530/50.

GOLD, 1H

intra, gold

AUDUSD, 1H

intra, audusd

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



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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.

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Gregor Horvat
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