AUDNZD Elliott wave Trade Signal: Can Santa Rally pull AUDNZD?

AUDNZD Elliott wave Trade Signal: Can Santa Rally pull AUDNZD?

27 December 2016, 06:13

Talking Points:

  • Technical Strategy: Bullish can be confirmed soon
  • Elliottwave Count: Wave 2 can mark completed


As per previous analysis,  AUDNZD (Australian dollar / NewZealand dollar) was expecting to complete it's wave 2 correction @ 1.0350 after having an high over 1.0726. We were seen corrective move towards 1.0350 in expanded flat correction. We also had a nice bounce from channel support and horizontal support from 1.0350 levels. We are considering it's reversal trend and able to count five wave upwards move in lower time frame. Considering that analysis, we are targeting wave (iii) in coming months which can at-least target above 1.0726. However, we under estimated correction target and correction is still in progress. We are now seeing complex w-x-y correction in placed. We are marking that correction over as we see inner bearish trend line breakout. We will gain more confidence once we have trend line breakout which was drawn from wave 1 towards wave (x) and B. Breakout level can be on 1.0500. However, we are optimistic here and putting correction complete and look for impulse movements in wave 3.  

We are looking for break of 1.0488 to confirm our analysis


We re-initiated our long position with definite stoploss.(No Action now)

Promotion (Last 6 days left):

We are running special promotion for limited time. You will get full access on site for life time with just $550. To avail offer, please follow link here.

AUDNZD Elliottwave Analysis: Can Santa Rally pull AUDNZD?

Share it with friends: