Menu

AUD/USD Elliott Wave Forecast 15th May to 29th May 2020

× Alert!
  • - Can't withdraw your funds from this fraudulent company?
  • - Have they asked you to pay excessive withdrawal fees or to deposit more funds?
  • - Or is there an excessive delay in processing your withdrawal?
  • - Are they trying to push you into depositing more money with them even without withdrawing the one you've already put in?

It's a CONFIRMED scam company, recover your stolen funds by clicking the button below, then fill out the form and you will get a FREE Mychargeback consultation today:


Click the button below, fill out the form to recover your lost funds from this scam company


Click Here To Recover Your Stolen Funds

AUD/USD Elliott Wave Forecast 15th May to 29th May 2020

AUD/USD Elliott Wave Forecast
AUD/USD Elliott Wave Forecast in 4 hours chart

 

Based on technical analysis AUD/USD Elliott Wave Forecast, the bearish trend is present in AUD/USD currency pair, 4 hours time frame based on AUD/USD Elliott Wave Weekly Forecast. As I have forecasted few hours ago, the price of AUD/USD pair is going to drop now prints a Bearish Zig Zag Elliott wave pattern and traders should look for a sell trade. So, all those Forex traders who have followed my Elliott wave forecast have made the right decision as price has descended.

Strong key resistance level is present at 0.6560 price area which is termination point of Bullish corrective wave b leg. In my judgment, price action in AUD/USD currency pair is now going to move sideways. Next expect further decline in price action to complete a Bearish corrective pattern – wave c leg. So, market is going to remain bearish on a short term basis. Next, expects a short term bottom in price action as well. Based on Elliott wave forecast, current Bearish trend is part of a Bearish corrective Elliott wave pattern, wave 2 leg in higher time frame.

Currently, Bearish corrective Elliott wave pattern, wave c leg looks in-complete. So, a good idea is to look for a possible sell trading chance to join the down trend around 0.6405 price area. However; if price of AUD/USD currency pair breaks above 0.6560 vital resistance level then down trend is going to end. In such a market scenario, it would be best not to trade Forex market and re-do AUD/USD Elliott wave analysis in four hours chart.

If you are a trader who prefer to use robots and EAs to automate your trades and make them very profitable for you or require very good forex/stock training resources, please check this page.

Now, at this point; I must acknowledge that the trend is bullish in higher time frame of AUD/USD currency pair.

AUD/USD Elliott Wave Forecast in daily chart

 

Try SMARD today, it is a bot designed for crypto traders and investors which uses advanced algorithms to profit from market fluctuations. No programming or trading knowledge is required to start. The algorithm relies on momentum effect strategies to systematically identify market winners. Below are the key reasons why everyone loves Smard.club:    1. You get up to 5% average monthly return on your starting capital.    2. The 10% monthly service fee is charged from your profits only. They don't make money unless you do!      3. You can start with as little as $1000 in your exchange account, meaning that you just need to connect your existing exchange (or open a new one) with Smard and begin trading right away!    4. No upfront payments for the service.    5. It's a smart way of investing in your favourite crypto coins - btc/altcoins, hurdling them while at the same time growing their values through auto-trading instead of just buy and forget.   Operating through API keys, SMARD ensures secure connections without requiring fund transfers to third parties. No upfront payment or card linking is needed. Try Smard today and see the real potential of your crypto portfolio, no upfront fees to pay!

Click Here To Sign Up Now

  >

Earn 804 PERCENT ROI once Bitcoin hits the $100K mark. That’s what R100K is all about, the Road to 100k is without a doubt one of the INNOVATIVE AND LUCRATIVE CRYPTO PROJECTS the industry has to offer. With transparency a key factor what MAKES R100K DIFFERENT is, the unique approach of vesting and finally EARNING HUGE PROFIT MARGINS. You now have the chance to experience unparalleled profitability thanks to cutting-edge and innovative Human-in-the-loop AI technology. R100K offers state-of-the-art rebalancing approach to amplify returns and thus increase your portfolio tenfold. R100K also has a proprietary trading algorithm that identifies promising altcoins and rebalances the portfolio by constantly selling high performing assets and redistributing funds into some of the world’s undervalued altcoins poised to breakout in the market soon. R100K strategists found high market altcoins correlate closely with BTC but these altcoins tend to perform better in a Bull MARKET. Thus, the R100K rebalancing strategy is highly lucrative with the method MAXIMIZING YOUR PORTFOLIO without leveraging thus protecting investors from liquidation risk. You also get transparency as all PERFORMANCE DISPLAYED IN REAL-TIME DATA. Binance offers track API to give investors clear vision of what’s happening. Your time to grow and PROFIT FROM CRYPTO is now thanks to R100K. Financial freedom is just around the corner with R100K the best option to earn close to 272 percent in return with rebalancing approach setting the profit margins to over 800 percent ROI. What are you waiting for? Sign up with R100K today for a chance to finally earn financial freedom. It’s your time to make it with a positive and proven approach to investing. Get started today for a chance to become one of the enlightened investors who bought in early and gained high profits. Sign up with R100K today!

Click Here To Sign Up Now
  >

Below is the daily chart of AUD/USD pair with my Elliott wave forecast which shows us a big picture and a well started bullish trend as well.

AUD/USD Elliott Wave Forecast

To me; price is printing Bearish corrective wave 2 leg. Next, price is going to prints a medium term bottom as well. After that I expect expect price action in AUD/USD currency pair to move up to complete bullish Impulse wave 3. Within Bullish Impulse Elliott wave pattern, all sub-waves must sub-divides into 5, 3, 5, 3 and 5 waves pattern.

The following Elliott Wave Bullish Impulse wave pattern diagram shows us a completed Bullish Impulse wave pattern within the frame work of Elliott wave principle.

Bullish Impulse pattern

The Bullish Impulse Wave pattern of the Elliott wave principle shows that how price action does not moves in a straight line fashion but in a series of higher swing highs and higher swing lows. Bullish Impulse Elliott wave pattern in an up trending market could be seen inside the above image. The figure shows what a Bullish Impulse Elliott wave pattern looks like. If a trader knows what a Bullish Impulse Wave pattern looks like, then it would become much easy for a currency trader to actually analyze the Forex charts and make a trading decision as well.

A Bullish Impulse wave consists of total five waves. Three bullish legs in the favour of an up trend. And two bearish corrective Elliott wave patterns, against the up ward market trend. We use numbers to label impulse wave 1, 2, 3, 4 and 5. Inside wave 2 and 4, we use English alphabets to label corrective wave structures. Please take a note that Bullish Impulse Wave pattern is a motive Elliott wave pattern. It appears at a trending market environment and moves in the favour of larger up ward market trend.

Based on my AUD/USD using Elliott Wave in daily chart, we have got an in-complete bullish wave 3 leg. So, market is going to first move sideways and then rise more to prints bullish Impulse wave 3 pattern. However; it is possible if price breaks below green colour support line then forecast will become in-valid.

To me; in four hours chart of AUD/USD currency pair the bearish wave c leg which is part of a higher degree wave 2 corrective wave pattern in daily chart is just a bearish leg in an up trend. As mentioned above as Bearish Zig Zag corrective wave leg inside a 4 hours chart.

Strong key support level is present at 0.5506 price area in AUD/USD daily chart. So, I expect market to first move sideways for next coming trading days and then may be start moving up. So, in my opinion market is going to remain bullish overall. And on a medium to long term basis, expects a sideways to bullish leg in market. Next, market is probably going to resume the Bullish trend after that in AUD/USD currency pair, in daily chart.

Now, when an existing Bullish Elliott Wave Weekly Forecast in AUD/USD is going to fail?

Well, the forecast is good for about next two weeks time. And price should stays above 0.5506 support area in daily time frame to keep the up trend alive. A clear bearish break down in price action below 0.5506 support area will end an up trend. It will also fail bullish Elliott Wave Weekly Forecast as well. In such a market scenario, it would be best not to trade the market and re-analyze AUD/USD daily chart.

Summary

 

Based on AUD/USD Elliott Wave Weekly Forecast the trend is up in daily chart. A good idea is to look for a buy trade around 0.5812 price area. As price action is going to rise towards 0.6711. But a clear bearish break down in price action below 0.5506 vital support area will end up trend. On a medium term basis, it is a bearish trend in AUD/USD 4 hours time frame.

A good idea is to take a sell trade around 0.6405 price level. Next, price is probably going to fall lower towards 0.6050 price level. However; if price of AUD/USD currency pair breaks above 0.6560 vital resistance level then bearish trend is going to end. We recommend trading with these top-rated brokers when using our signals/analyses/forecasts as they handle your trades quicker and more efficiently with very low spreads and most of them have high trade execution rate.

Leave a Reply

Your email address will not be published. Required fields are marked *

YouTube video

Follow Us

Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.

Copyright © 2022 · Valforex.com | Privacy Policy | Earnings Disclaimer DMCA.com Protection Status