Intraday Elliott Wave Analysis For EURUSD And AUDUSD

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By Elliott Wave Analysis Service |

The markets are showing some mixed picture on the intra-day basis. Firstly the EURUSD was up but now trying to move lower in-line with other weak currencies such as AUD and CAD. We however think that pull-back on EURUSD is just another correction, also wave four but of a one larger degree. Elliott Wave Principle suggests that current weakness is a)-b)-c) retracement where looking for long opportunity will be good idea. 
EURUSD 1h – Elliott Wave Analysis

EURUSD Elliott Wave Analysis 1h 102413
EURUSD Elliott Wave Analysis 1h 102413

Our focus is also on AUDUSD, where we are tracking an (a)-(b)-(c) retracement back to 0.9580/0.9600 support. If we get an impulsive rally in the next 24 hours then we could be looking for long opportunity.
AUDUSD 1h – Elliott Wave Analysis

AUDUSD Elliott Wave Analysis 1h 102413
AUDUSD Elliott Wave Analysis 1h 102413

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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.