Euro Currency Pairs Elliott Wave Analysis

Looking at three currency pairs: EURUSD, EURJPY, EURNZD.

EURUSD is higher as speculators see ECB much more hawkish than the Fed; a trend that may resume also after ECB press this Thursday.

10 and one 10 us dollar bill

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EURJPY is bouncing and recovering in an impulsive fashion and back above the channel resistance line, which confirms that the bottom can be in place. So, we are now tracking a minimum three-wave A/1-B/2-C/3 rally, which means that we can expect more gains within wave C/3, just be aware of a pullback in wave B/2.

EURJPY Elliott Wave Analysis Chart

EURJPY Elliott Wave

EURNZD is turning sharply and impulsively down after we noticed a correction in wave 4 which looks to be completed now after a recent break below the channel support line. Seems like wave 5 is already in progress, so watch out for more weakness in upcoming days that can send the price back to lows.

EURNZD Elliott Wave Analysis Chart

EURNZD Elliott Wave

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