Elliott Wave Analysis On AUDNZD And EURJPY
AUDNZD
AUDNZD is turning down, now finally falling within wave c that can represent last piece of a wave 2/B pullback. In many cases we will see that corrections will retrace back to the area of a former wave four, and ideally for 61.8% Fibonacci ratio. Well, in our case these both technical levels come around 1.0460, so it can be very interesting for a new turn up later this week.
AUDNZD, 4H
EURJPY
It appears that EURJPY is now finally turning bearish, making a turning point that we have been waiting on for the last few days. We see that market turned down from 115.67 level, following a break out of a triangle correction in wave 4. As such, it looks like that weakness is now underway, but as always lets focus on minimum expectations which means drop in 3-legs back to 114.00/30 zone. I am considering to short this one, but don’t like upcoming FOMC statement tonight at 19:00GMT and then NFP on Friday.
EURJPY, 1H
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