Tuesday, 9 June 2020

AUDUSD to top & reverse?

Hi Traders,

The AUDUSD (now at 0.7038) entered the target area 0.700-0.756 (see monthly, weekly and daily charts). It might top soon and temporarily reverse to the area 0.67-0.65.

ELLIOTT WAVES

The monthly, weekly and daily charts show the upper target area at 0.700-0.756.

The 4-hours chart reveals that the whole set of main waves and sub-waves is practically complete.

Note the last channel in the 4-hours chart and in the 1-hour chart: The show 4 or more contact points, meaning that a reverse is imminent.

However, be aware that the AUDUSD might attempt one last flicker to 0.71  before reversing to the area 0.67-0.65.


Monthly chart. Click to enlarge




Weekly chart. Click to enlarge




Daily chart. Click to enlarge




4-hours chart. Click to enlarge




1-hour chart. Click to enlarge



Wednesday, 15 April 2020

WTI OIL to bounce back

Hi Traders,

Unless the WTI Oil drops below $19, it could recover to $42 or even 54.42.

ELLIOTT WAVES

In the monthly chart, the last candle is an inverted hammer. This implies a temporary rebound (therefore the downtrend should resume soon after) and also a rebound limited to $54.42. The most likely target should be $42.

The daily chart, the 4-hours chart and the 1-hour chart show that, unless the Oil drops below $19, the Elliott Wave pattern unfolding could be an AB+5

If this is the case, wave A and B have been completed and should be followed by 5 waves up, possibly to 54.42, more likely to 42.


Monthly chart. Click to enlarge



Weekly chart. Click to enlarge



Daily chart. Click to enlarge



4-hours chart. Click to enlarge




1-hour chart. Click to enlarge