Elliott Wave Analysis On EURAUD And NZDUSD 

NZDUSD analysis

Gregor - Author BIO photoEURAUD

EURAUD made a nice intraday bounce up to 1.4800 today and touched 38.2% where corrective bounce can be finished. Keep in mind that big picture is pointing down as rally from 1.4465 to 1.5200 has unfolded in three waves, so we believe that any intraday rallies are now part of a bearish continuation. That said, we think that sooner or later EURAUD will break beneath 1.4465 low from March.


EURAUD analysis

Click to Enlarge


On the NZDUSD we still see some room left for another 50-70 pips rally towards 0.7000 psychological level where bears could step in as final pieces of a wedge will then be in place. I would be interested to short this one if we get bearish impulse turn sometime this week.


NZDUSD analysis

Click to Enlarge



By Gregor Horvat

Find more: Contributing Authors 

Leave a Comment

Broker Cyprus TopFX