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Elliott Wave Analysis On EURUSD And EURAUD

Euro broke above the 1.1000 mark, so it looks like that rally from 1.0849 is now surprisingly strong with a structure of a double zigzag that can reach 1.1080 area soon.

EURUSD, 1H

EUR/USD 1-Hour Chart

EUR is also looking very strong against other currencies, even against the AUD despite a nice push up on metals today. EURAUD is underway to 1.4520 short-term target, but it may get even to 1.4600 by the end of the week, if today's price will end the day above the channel line.

EURAUD, 1H

EUR/AUD 1-Hour Chart

 


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