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Elliott Wave Analysis On EURUSD AND AUDUSD

EURUSD

On the intraday chart of EURUSD, we are observing an idea of a minor degree correction, which is now unfolding in the wave B). Price is turning higher now above the upper corrective channel line, where we expect a break out that will put more gains in play. We think that price can rally back to 1.1450 area, before bears may show up.

EURUSD, 1H

EUR/USD 1-Hour Chart


AUDUSD

We see AUDUSD in the final wave 5 of a bullish advance, which may complete a higher degree correction in sessions ahead. Final wave 5 of C) may ideally stop around 0.755 region, from where bears may take over.

AUDUSD, 30Min

AUD/USD 30-Minute Chart

 


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