EUR/AUD: Three-Wave Completed, Correction Shows More Gains Ahead

Forex Technical Analyst • Jul 25, 2017 at 10:45 AM EDT

EURAUD looks to have completed its three wave correction near the Fibonacci ratio of 50.0, which now means that more gains may follow on the pair.

EUR/AUD looks to have completed its three wave correction near the Fibonacci ratio of 50.0, which now means that more gains may follow on the pair. We can already see the price turning higher towards the upper channel line. Once the upper channel line is breached, we can say that a change in trend is about to happen. Another indication and confirmation for more gains will also be a breach above the previous wave B at the 1.4764 level.

EUR/AUD, 1H

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