EURUSD and AUDUSD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Mon, Aug 31, 2015
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No change on EURUSD for now. We see higher price for wave (c) towards 1.1310 resistance where pair can turn south again, unless that's a triangle in fourth wave still unfolding. Second resistance is at 1.1360.

EURUSD 30min Elliott Wave Analysis

EURUSD 30-minute Elliott Wave Analysis Chart

AUDUSD is lower today, but it can be wave c of (d) that is now trading at 61.8% Fibonacci level compared to wave (b). That's ideal Fibo zone so ideally market will bounce up in (e), for final subwave within wave 4. We are looking at 0.7150 and 0.7180 as technical levels for possible turn down in the next 24-48 hours.

AUDUSD 30min Elliott Wave Analysis

AUDUSD 30-minute Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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