Commodities continue to trade higher very aggressively, and this may not stop so easily due to new sanctions against Russia. One of the most important can be a ban on Russian oil imports, which can be introduced in the US this week. Stocks are now also coming down in the US.
Aussie is coming sharply down, very impulsively from the highs so we believe that top is in and that market will see even more weakness in sessions ahead. Hopefully, we will see a three-wave rally first, back to 0.7310-/60 area before the downtrend resumes.
AUD/USD 4h Elliott Wave Analysis
NZD/USD is trying to turn down in the 4-hour chart after potentially completing a 7-swing a-b-c-x-a-b-c corrective rally and fake channel break-out. The current decline looks quite sharp, so seems like the Kiwi found the resistance at 0.6925 level and we will have to be aware of a bearish continuation that can send the price back to lows in the near future.
NZDUSD 4h Elliott Wave Analysis
Comments
Log in or sign up to join the conversation.