Elliott wave Analysis: EUR/USD and AUDUSD Update

Gregor Horvat Wavetraders

Hello traders,

USD Index is still in uptrend, now in wave four so more upside is expected which can be supportive for overall dollar pairs, including USDJPY. USD Index can be headed up to 98.40/50 area, while EURUSD bears may continue towards 1.1100.

EURUSD, 1h

Aussie is also weakening against the buck, now seen in late stages of an extended wave three which managed to break below 0.7048 low that can become a resistance after an upcoming wave four bounce, which may be around the corner.

AUDUSD, 1h

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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