Elliott Wave Analysis: GBPJPY and AUDNZD
Elliott Wave Analysis: GBPJPY and AUDNZD
GBPJPY can be trading at the end of a three-wave correction. We see waves a-b and c now completed near the lower channel line, from where a new bounce can come in play. A breach above the upper channel line would indicate a bullish continuation.
GBPJPY, 1H
AUDNZD is trading higher, unfolding a five-wave bullish impulse towards the Fibonacci ratio of 100.0 or even 123.6. Specifically we see price trading at the end of sub-wave 3), which means a temporary corrective pullback may follow in the near-term.
AUDNZD, 1H
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