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Gregor Horvat

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…

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AUDUSD and EURUSD Intraday: Elliott Wave Analysis

AUDUSD is trading outside of the upward channel so ideally wave A) is now done with its five subwaves up from 0.7611 so traders should be aware of a lower pullback. We are looking at wave B) correction that can retrace to 0.7760/0.7800, potential support area. We think that price will reach 0.8000 psychological level before it may turn down for a bigger impulse.

AUDUSD 1h Elliott Wave Analysis

AUDUSD 1-Hour Elliott Wave Analysis Chart

EURUSD is slightly reversing from the highs, ideally down into wave C of wave B) that can be looking for support near 1.0760/1.0800. We will be pay close attention to this level for bounce and maybe even longs.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart

 


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