AUDUSD as predicted

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AUDUSD - ANALYSIS

The AUDUSD (now at 0.9129) did exactly as predicted. After getting up to level 0.94 it tanked to 0.9111 and bounced back up to 0.9217. Here the major downtrend resumed. Although another small rally to 0.9236-38 is still possible, the closest target downwards is now 0.9085 and the area 0.9005-0.8997.




TARGETS:
T1: 0.9085 and the area 0.9005-0.8997.
T2: the area 0.8892-0.8869.
T3: the area 0.8578-0.8509
T4: the area 0.8420-0.8300.

ELLIOTT WAVES

In the monthly chart (and in the weekly chart) "wave 5" downwards is in the making as the Aussie is pointing down to 0.9086 and below (long term trend).

In the 1-hour chart " Wave 1 and 2 - of a lower degree - are completed. Wave 3 is being traced.

The most likely targets appear to be the area 0.8578-0.8509 and the area 0.8420-0.8300. See monthly chart and weekly chart



Monthly chart - click to enlarge

Weekly chart - click to enlarge

Daily chart - click to enlarge

Wave oscillator on a daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

EURGBP

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EURGBP - ANALYSIS

The EURGBP (now at 0.7931) is set to reach a temporary top around 0.8155 and maybe 0.8227. Then it should resume the downtrend to the area 0.7693 - 0.7615.

NOTE: The BOE may stop the fall of the Euro if it breaches the support at 0.7500-0.7445. If this doesn't happen, the Euro may reach level 0.69-0.68.


TARGETS:

Topping soon at
likely: around 0.8155 
possibly: around 0.8227

Then down to:

likely:  0.7693
possibly: 0.7615



ELLIOTT WAVES

The monthly chart and weekly chart display a huge a-b-c-d-e, where "wave e" should be made out of 5 smaller waves. Waves 1-2-3 are already there and wave 4 is still in formation. The daily chart displays the start of wave 4 to 0.8155-0.8227.




Monthly chart - click to enlarge

Weekly chart - click to enlarge

Daily chart - click to enlarge

Wave oscillator on a Daily chart - click to enlarge