 Following up with an early post on AUD/USD, the rally causes some adjustments in the Elliott Wave count. I mentioned before that for this to be a wave b, the rally should not have… |
 Here is a look at the 4H and 1H chart. Below are daily and weekly charts. I want to anticipate the current count, and in the 4H chart, we can clearly see an impulse wave coming to an end, and therefore… |
 The AUD/USD pair in the 4H chart shows a bearish divergence. Even though the USD is weak across the board, commodity currencies such as NZD, CAD and AUD have been rivaling the weakness… |
 The AUD/USD pair has corrected its downswing to 0.83 but has stalled at 0.85. Looking at the daily and 4H chart, this correction does not show significant strength relative to the prior downswing. |
 The AUD/USD slid sharply yesterday, paused during the previous Asian session, but started to slide again just ahead of the US session. The daily shows that a slide can find some support at 0.81, the previous.. |
 The AUD/USD is closing the gap that the market made during the opening of this week’s trading. Looking at the daily chart, the market was rejected from going above the 61.8% at 0.8885.The 4H chart shows… |
 China unpegged the yuan (RMB) to the USD, ending a 2-year freeze, since July 2008. The market felt that if the Chinese currency is allowed more flexibility to appreciate, the rise in purchasing power could… |
 The previous post was right, the bearish divergence was followed by a very weak decline and the last 4H candle signals another bullish attempt. This sets up a positive reversal, and points to just below 0.6750. This is now the target for this correction wave (c) to be complete. In the daily, this is going to test the 50-period simple average. This will be… |
 In following the AUD/USD, we are still looking for a wave 4′ of wave (c). Wave 3′ has definitely been developed or is still developing, as the RSI in the 4H time-frame went above 60… |
 The AUD/USD pair has been developing a wave (c). At conclusion of (c), we may have concluded wave 2 of wave C. A wave 3 decline could initiate if the current rally tops off under 0.89 (61.8% retracement)… |