EURUSD and AUDUSD Intraday Elliott Wave Analysis

By: Gregor Horvat | Tue, Aug 18, 2015
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AUDUSD is trading sideways for the last few days so we assume that market is forming a triangle pattern, currently with sub wave D underway down to 0.7270 Fibo project. level. We will be looking for break to new lows on AUDUSD after waves D and E are finished, most-likely later this week.

AUDUSD 1h Elliott Wave Analysis

AUDUSD 1-Hour Elliott Wave Analysis Chart

Traders, EURUSD is now lower, approaching 1.1000 level which makes a decline from the latest high long and deep, so I suspect that pair is already make wave (D) leg from the highs, so weakness can continue towards 61.8% Fibo target. However, pair is still slow and choppy within bigger triangle range, so we prefer to wait on wave (E) before any shorts can be taken into consideration.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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