In mid-July, AUD/USD, the exchange rate between the U.S. and Australian dollar (and a popular forex pair) was trading near 1.0100.
But Elliott wave analysis told EWI’s Currency Specialty Service editor, Jim Martens, to expect a big rally: all the way to 1.05, at least.
Three weeks later, AUD/USD indeed rose to that target — and then some. On August 7, AUD/USD hit a high of 1.0600 — a 400-pip rally.
There is a lot more to this story.
Watch the entire 8-minute video Jim Martens recorded for his subscribers on July 13. It’s a great lesson in using Elliott to find multiple trading opportunities at various degrees of trend.
The video also gives you a taste of the kind of analysis you get 100% free for 7 days, starting on October 17, during our special event for currency traders: Forex FreeWeek.
Join EWI’s Forex FreeWeek now >>
| EWI’s Forex FreeWeek Is Live – Starts: Noon Eastern time Wednesday, Oct. 17Get 7 full days of total access to EWI’s forex forecasts for trading opportunities in 11 most-traded currency pairs — 100% FREE! Join FreeWeek now and instantly watch another great learning video by Jim Martens >> |
This article was syndicated by Elliott Wave International and was originally published under the headline (VIDEO) AUD/USD: “Look to the 1.05 Area…”. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.