Elliott Wave Analysis: Possible Top On AUDUSD Can Be Formed Around 0.760


On the AUDUSD pair, we are looking at a nice impulsive reaction from the lows at 0.72840, which can be red wave C) as part of a bigger corrective pullback. As of now price completed four waves to the upside, and could now already be in black wave 5, final wave of wave C), which can find its top around 0.7559 level. After Wave C) is completed, price is expected to make a minimum three wave of a reversal.

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.