Jun 012010
 

The Elliott Wave analysis of AUD/USD published on 24th May in wavetimes suggested that any recovery to 0.8550 levels will find fresh sellers. The downside objective was below 0.7800. To our delight, the currency ran into a brick wall on 28 May exactly at 0.8551 and is already down by over 2%. If you managed to sell near the said levels, keep your stops now at 0.8560 and ride the position till we approach the target on the downside. Nothing works like elliot wave analysis when it works! And as you can see here in wavetimes, it works most of the time. WHen it does not work, your stops are so close that it really doesn’t hurt! Enjoy. Ramki

  3 Responses to “Elliott Wave Analysis of AUD/USD (Australian Dollar)”

  1. Superb call as always. I managed to sell some almost at the peak and running for a move below 0.80. Thanks

  2. Dear Ramki

    Many thanks for taking the time and effort to create this site. I stumbled across it last week and have found it of incredible value. I am an Australian based investor/analyst and am still a bit green when it comes to Elliot Wave analysis. I was wondering (when you come back from holidays of course!!!) if you had the time would you be able to provide a view on the AUD/JPY & AUD/NZD?

    Kind regards

    Dane Pymble

  3. Forgot to say that my view is that the declines in the AUD against the JPY & NZD since mid April appear impulsive. I was wondering if you shared this view?

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