EURUSD And EURAUD Intraday Elliott Wave Analysis

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From a trading perspective and also analytical perspective the next big move on the EURUSD remains questionable and unconfirmed while pair trades in the middle of January high and low. But on intraday basis we see five waves up from 1.3560 now approaching 1.3730/40 resistance area where current bullish waves may slow down at the start of the week. Latest overlapping and very slow price action around 1.3700 figure and divergence on the RSI also suggests that gains are limited.
EURUSD 1h Elliott Wave Analysis

eurusd elliott wave

EURAUD looks very interesting for more upside after clearly five waves up from 1.4980 followed by very slow and overlapping retracement from 1.5280 within a trading channel. That’s clearly a corrective personality, so we think that pair will continue higher early this week back to 1.5280 and maybe even to 1.5400 Fibonacci projected level.
EURAUD 1h Elliott Wave Analysis

euraud elliott wave

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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.