Elliott Wave Analysis: EURUSD and AUDUSD Intraday 5/2/2014

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eurusd elliott wave intraday

EURUSD 1h Elliott Wave Analysis |

One of the clearest pattern in this week is on EURUSD where we see a completed three wave set-back from April high followed by a bullish impulse from 1.3773. It looks like pair wants to move above 1.3904 and based on price action and timing (NFP release) this may happen in the next few sessions. Pair is up as long as 1.3773 holds.

If  NFP will be good for the USD then AUDUSD could be interesting where we see a bearish pattern after three waves and sharp fall from 0.9310. Break of red wave b) support may open door for 0.9225 and then 0.9200.
AUDUSD 30min Elliott Wave Analysis

audusd elliott wave intraday

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.