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Elliott Wave Analysis: EURUSD And AUDUSD Update

Markets did not move much since Sunday open, so trends since Friday are still intact.

We have seen an interesting strong run up on EURUSD right into Sep 24 gap where pair slowed down last week, but not for long as we see market making a corrective wave four which is expected to find a base at 1.1910/1.1880 area.

EURUSD, 1H

Finally after a very long-time commodity currencies area moving in-line with current euro gains. We see Aussie turning up with five-waves within wave A, first part of a three-wave bullish reversal and now even breaching higher towards wave C. Wave C must also unfold five minor waves, which means more upside may follow on AUDUSD, idally towards 0.7667 level.

AUDUSD, 1H

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