Elliott Wave Forecast!

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Oil fell sharply lower last week, clearly in five waves from 97.60 which means that the trend has now turned bearish

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AUDUSD moved through 1.0500 swings which mean that wave II pull-back is complete and that larger uptrend is back in progress again.

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EURUSD extended another 200 pips higher since Friday, so now we are even more confident that low on EURUSD is in place which was expected because of ending diagonal, reversal pattern placed in wave 5).

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Oil recovered nicely in the last few days from 91.80 back to 94.75 which was expected after a completed five waves down in wave 1.

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EURUSD could make a deeper corrective pull-back in the very near-term within wave B) towards 1.2900/1.2950 support zone before pair turns higher once again for wave C).

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AUDUSD turned sharply lower and made a daily close beneath rising trend-line connected from March lows.

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EURUSD finally broke out of a sideways price action into wave C); earlier than we thought but still in our primary direction

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EURUSD reversed sharply lower yesterday from 1.3200, clearly in impulsive fashion beneath rising trend-line from 1.2745 and as well as wave B) swing low.

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GOLD rallied nicely in the last few sessions which was expected as we needed a three wave rally in wave 4. For now, the bounce is unfolding very nicely, but we need to see 38.2% hold to turn straight down again.