10 Mar 2015
AUD/USD more weakness ahead – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast uses Elliott Wave Analysis to provide the technical outlook for AUD/USD, expecting further weakness for the pair towards 0.7500.
Key Quotes
“AUDUSD is now even lower, now trading close to 0.7624 low so we suspect that new bearish impulsive cycle has began.”
“We are talking about wave (5) that should be made by five smaller waves, but currently we still see wave 3) in progress towards 0.7500, so be aware of much more weakness in days ahead, while market trades beneath 0.7845.”
Key Quotes
“AUDUSD is now even lower, now trading close to 0.7624 low so we suspect that new bearish impulsive cycle has began.”
“We are talking about wave (5) that should be made by five smaller waves, but currently we still see wave 3) in progress towards 0.7500, so be aware of much more weakness in days ahead, while market trades beneath 0.7845.”