I had done the following analysis on 15th August 2015, but couldn't post. Posting it now for future reference. As of today the waves are proceeding as shown on the charts and there is no change in the analysis.
The charts below show the trend lines and the possible Elliott wave counts for AUD/USD and AUD/CNY. The Elliott wave counts correspond to the trend completing at the trend line support. It is possible that the trend lines are broken in a false breakdown, before the trend finally reverses.
Looking at the charts, it is possible that the pairs may be completing a long term downtrend and likely to reverse. If this analysis is correct it has bullish implications for commodities and possibly oil.
AUD/USD Monthly - Trend Line and Elliot Wave counts
AUD/USD Daily - Elliot Wave counts for wave 5 in red above
AUD/CNY Weekly - Trend Line and Elliot Wave counts
AUD/CNY Daily - Elliot Wave counts for wave 5 in red above
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