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Decision Time

Decision Time

Last week, I mentioned that…

Elliott Wave Analysis On USDCHF And EURAUD

USDCHF

USDCHF after completing an ending diagonal in the red wave C) made a nice bullish move up with the highs around 0.9816. From there we have seen an A-B-C pullback that unfolded and recently price broke above the upper corrective channel line. This break usually indicates that more gains could be in store.

USDCHF, 1H

USD/CHF 1-Hour Chart


EURAUD

EURAUD is still going nowhere, thus is still searching for potential lows. Current pullback is long in time and we are observing 1.4830 as the probable low and expect to see a reversal higher around the Fibonacci ratio of 61.8 and the formal wave iv) swing.

EURAUD, 4H

EUR/AUD 4-Hour Chart

 


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