Elliott Wave Analysis: EURUSD And NZDUSD

Grega Horvat

Good day traders! Today we’re gonna take a look at some intraday charts. The first one is EURUSD. The EURUSD is trading nicely higher today, probably in final stages of a higher degree bullish impulse. Ideally current rally since 28th of July is the final push of a black wave v of v), that will search for limited upside near the middle or upper channel line. From the mentioned region a new change in trend can come in play.

EURUSD Hourly Chart

EURUSD Hourly Chart

The second pair is NZDUSD. NZDUSD can be trading in a three wave corrective movement labeled as higher degree wave 4), that can search for support near the Fibonacci ratios of 138.2/161.8. Hopefully previous swing low of wave 4 will also offer some support and push prices in the bullish direction.

NZDUSD Hourly Chart

NZDUSD Hourly Chart

Source: www.ew-forecast.com

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