Elliott Wave Analysis: EURUSD and AUDUSD

By: Gregor Horvat | Fri, Feb 24, 2017
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EURUSD

EURUSD is turning south, now below the channel support line after a sharp intraday turn down from above 1.0600, so we have first evidences of a bearish continuation here. Pair can be headed back to February lows, but we will need an increase in momentum below 1.0537 bearish level. Maybe Trump speech now at 15.00GMT can be the catalyst for the move. On the upside 1.0677 remains invalidation level.

EURUSD, 30Min

EUR/USD 30-Minute Chart


AUDUSD

Aussie is turning nicely down from the highs which can be part of an impulsive price move, but we still need 5 waves down to call a top. If that will be the case, then I will consider short opportunities on pullback; wave 2 then.

AUDUSD, 1h

AUD/USD 1-Hour 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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