Elliott Wave Analysis: AUDUSD and EURGBP

AUDUSD

Aussie is on the rise following a completed five wave decline to 0.7330 on May 09. The reason for a this new recovery is a recently broken channel line with sub-wave A and then also that same trendline turned out to be a good support for B-wave. As such, we are tracking a three-wave recovery which will ideally be wave 2) that may look for a top near the area of a former wave four.

AUDUSD, 30Min

EURGBP

EURGBP is on the rise since yesterday when the market might have accomplished a three wave decline in wave b) near 0.8370, so wave c) can be underway much higher, even to 0.8600 for wave two, especially if the market will close bullish today.

EURGBP, 1H

Get the 5 most predictable currency pairs[1]

from Forex Crunch http://feedproxy.google.com/~r/ForexCrunch/~3/P23VtHSQiaM/

from Online Forex Trading Resource
View thesource article here

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