Jump to content

British Pound/ Australian Dollar(GBPAUD) - Forex Analysis & Elliott Wave Technical Forecast


Recommended Posts

GBPAUD Elliott Wave Analysis Trading Lounge Day Chart,    

British Pound/ Australian Dollar(GBPAUD) Day Chart  

GBPAUD Elliott Wave Technical Analysis

FUNCTION: Counter Trend              

MODE: Corrective              

STRUCTURE Blue wave 😄

POSITION: Black wave 2            

DIRECTION NEXT LOWER  DEGREES:black wave 3            

DETAILS: blue wave B of 2 looking completed and blue wave C of 2 is in play . Wave Cancel invalid level: 1.99747            

The GBPAUD Elliott Wave Analysis for the day chart offers valuable insights into the potential price movements of the British Pound/Australian Dollar currency pair, utilizing Elliott Wave principles within technical analysis.

Identified as a "Counter Trend" scenario, the analysis indicates that the current market direction opposes the broader trend, suggesting a corrective phase or potential reversal from the prevailing price movement.

Characterized as "Corrective" in mode, the analysis suggests that the current price action is part of a corrective wave pattern, indicating a temporary deviation from the primary trend.

The "STRUCTURE" is defined as "Blue wave C," signifying that the market is currently within the C wave of a corrective pattern. This typically represents the final leg of the corrective structure before the resumption of the larger trend.

Positioned as "Black wave 2," the analysis provides insights into the current wave count within the broader Elliott Wave cycle. This helps traders identify potential reversal levels or corrective targets within the larger wave structure.

The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 3," indicating the anticipated direction for the subsequent lower-degree wave. This suggests that once the current corrective phase concludes, the market may resume its downward movement in the broader Elliott Wave cycle.

In the "DETAILS" section, it is noted that "blue wave B of 2 looking completed, and blue wave C of 2 is in play." This suggests that the corrective phase has likely concluded, and the market is now poised for a reversal or continuation of the larger trend.

The "Wave Cancel invalid level" is specified as 1.99747, serving as a critical threshold. A breach beyond this level would invalidate the current wave count, prompting a reevaluation of the analysis.

In summary, the GBPAUD Elliott Wave Analysis for the day chart provides traders with valuable insights into potential price movements, corrective phases, and critical levels to monitor for trading opportunities within the broader Elliott Wave structure.

 

5b6ae430ad56080cd3fbe527ba20aa60

 

 

GBPAUD Elliott Wave Analysis Trading Lounge 4 Hour Chart,    

British Pound/ Australian Dollar(GBPAUD) 4 Hour Chart  

GBPAUD Elliott Wave Technical Analysis

FUNCTION: Counter Trend              

MODE: Corrective              

STRUCTURE Blue wave 😄              

POSITION: Black wave 2            

DIRECTION NEXT LOWER  DEGREES:Black wave 3          

DETAILS: blue wave B of 2 looking completed and blue wave C of 2 is in play . Wave Cancel invalid level: 1.99747            

The GBPAUD Elliott Wave Analysis for the 4-hour chart presents insights into potential price movements of the British Pound/Australian Dollar currency pair, employing Elliott Wave principles within technical analysis.

Defined as a "Counter Trend" scenario, the analysis suggests that the current market direction contradicts the broader trend, indicating a corrective phase or reversal from the prevailing price movement.

Characterized as "Corrective" in mode, the analysis indicates that the current price action is part of a corrective wave pattern rather than a impulsive move in the direction of the primary trend.

The "STRUCTURE" is identified as "Blue wave C," implying that the market is currently within the C wave of a corrective pattern, typically denoting the final leg of a corrective structure.

Positioned as "Black wave 2," the analysis indicates the current wave count within the larger Elliott Wave cycle, providing insights into potential reversal levels or corrective targets.

The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 3," suggesting the anticipated direction for the subsequent lower-degree wave. This implies that once the current corrective phase completes, the market may resume its downward movement in the larger Elliott Wave cycle.

In the "DETAILS" section, it is mentioned that "blue wave B of 2 looking completed and blue wave C of 2 is in play." This suggests that the corrective phase has likely ended, and the market is now poised for a reversal or continuation of the larger trend.

The "Wave Cancel invalid level" is specified as 1.99747, serving as a critical threshold. A breach beyond this level would invalidate the current wave count, necessitating a reassessment of the analysis.

In summary, the GBPAUD Elliott Wave Analysis for the 4-hour chart provides traders with valuable insights into potential price movements, corrective phases, and critical levels to monitor for trading opportunities within the broader Elliott Wave structure.

 

6c8dd6811cfdfa846112d50e38a7255b

 

Technical Analyst : Malik Awais

Source : Tradinglounge.com get trial here!

span widget

Edited by tradinglounge
Image
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • The story of this squirrel is a story of love and impact of social media. The memecoin has gain popularity, topping many exchange gainers list.
    • The Solana ecosystem continue to provide the best memecoin, with **** and WIF notably turning many into millionaires creating huge buzz on the ecosystem. Despite the hype around projects like Popcat and Goat, which many missed out on, the crypto community is always on the lookout for the next big wave. $MOODENG, inspired by the charming baby hippopotamus Moo Deng, generated huge attention recently especially as many top exchanges listed the meme. In the same trend another meme is currently trending in the industry, $PNUT. Peanut, inspired by a story of a Squirrel. Rescued by Mark Longo in 2017 after losing his mother, Peanut became an Instagram sensation, amassing over 534k followers. However, tragedy struck when state authorities seized Peanut, leading to his euthanization. This event not only raised questions about government overreach but also inspired the creation of $PNUT, serving as both a tribute to Peanut and a satirical take on current events. Buoyed by endorsements from influential figures like Elon Musk, $PNUT has quickly soared past a $100 million market cap, with predictions suggesting it could reach a billion. With listings already on exchanges like Bitget and potential future support from Binance, Could SPNUT be the next top meme on Solana?
×
×
  • Create New...
us