Elliott Wave Analysis: EURUSD And AUDUSD

Gregor Horvat

We can see some buying pressure on euro this morning, but looking from a larger perspective there is still only a three wave advance from the low which looks like a flat formation that can be now in final stages. We are tracing wave 2 which may find some resistance around 1.0620-10680 area where we expect to see a turn this week.

EURUSD Hourly Chart

EURUSD Hourly Chart

Aussie is also up now, but with much lower momentum than EURUSD. we see price in wave four now which is testing intraday Fib. resistance near 0.7600 from where we may see a new decline into wave five of 3, while price is below 0.7637.

AUDUSD Hourly Chart

AUDUSD Hourly Chart

Source: www.ew-forecast.com

Comments

comments