Top Trade Idea for June 2nd, 2015 – AUD/USD

Top Trade Idea for June 2nd, 2015 – AUD/USD

By Gregor Horvat on Jun 2, 2015 08:09:47 GMT

  • Tweet
  • Email
  • Tweet
  • Email

AUDUSD Could Break Lower In Days Ahead

A few weeks back AUDUSD has turned bullish for some time, but most likely only temporary as rally from the low was having an overlapping structure. We know that this is a characteristics of a contra-trend price action, so trend remains bearish for now within impulse that is in play since mid-2014.We see market moving sharply lower now after broken upward channel, so wave (5) is in play for a move down to 0.7100-0.7300 area.

AUDUSD Daily Elliott Wave Analysis

On the 4h chart we can see that AUDUSD is trying to recover, now moving above the upper trendline of a downward channel so we suspect that five waves down is complete and that price is headed up in three waves. We see a corrective pullback coming in to 0,7800-0.7950 area where traders may consider short, but only if three waves up from latest low will be visible on the 4h chart as illustrated on the chart below.

AUDUSD 4h Elliott Wave Analysis

What Can You Get For 1€? At ew-forecast.com Try 1 Month Full Service >>  http://www.ewforecast.com/register

About Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com .

Recent posts by Gregor Horvat

  • Top trade idea for November 16th, 2016 – EUR/USD
  • Top Trade Idea For November 1st,2016 – Crude Oil
  • Top trade idea for October 18th, 2016 – USD

MORE LIVE RATES
Economic Calendar ForexNews.com News, Charts, Research & Video

Copyright © ForexNews.com | Privacy Policy

Market commentary and/or opinions presented do not necessarily represent the opinions of ForexNews. You are advised to conduct your own independent research before making a decision. This website is an information site only. Accordingly, ForexNews makes no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. You should obtain individual financial advice based on your own particular circumstances before making an investment decision on the basis of information on this website.

Будьте первым, кто решился написать!

Поделитесь своим мнением:

E-Mail адрес не будет опубликован.


*