Elliott Wave Analysis On GBPAUD And CADJPY
GBPAUD is trading in an impulsive structure from the lows. Current count is displaying three waves to the upside with a corrective pullback in wave 4) with possible support seen at 2.002 region, where previous wave 4 can act as a turning point higher.
CADJPY seems to be in a corrective pullback pattern labeled as blue waves A-B and C, with a possibility of reaching lower levels ,after and if the lower connecting channel line is breached. As of now we recognized the first impulsive drop from the end of wave C as blue wave 1 and now we expect a zig-zag to unfold in blue wave 2, ideally to around 50 or 61.8%, before more downside may follow.
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