Elliott Wave Analysis: EURJPY and AUDUSD View 

audusd analysis

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Elliott Wave Analysis: EURJPY and AUDUSD View

EURJPY made a new intra-day drop lower, right into our Fibonacci projection zone for leg c of 4. Ideally will pair now search for a base near the mentioned Fibonacci zone and later make a new reversal higher. A later five-wave rally will indicate a completed wave 4 and wave 5 in progress.


EURJPY analysis

AUDUSD can be trading in a potential correction of a bigger wave 2, with recently completed sub-wave a. Current choppy movement can now be the following wave b, that can search for limited downside near the 0.7930 region and later make a new bounce higher into the final leg c of 2, with potential top coming in at Fibonacci ratio of 50.0 or 61.8. But if price continues strongly to the downside and breaches below the 0.7908 level, then we could say that wave 2 is already completed.


audusd analysis


Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.



By Gregor Horvat

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