Image Source: Unsplash

EUR/AUD and GBP/AUD currency pair are in a massive rally in the 4-hour chart and they are ideally unfolding a five-wave bullish impulse that can lift the price higher.

EUR/AUD pair nicely jumped into wave (5) of 3, from where we may now see a new higher degree wave 4 corrective pullback that can retest the 1.64x support zone before the uptrend for wave 5 resumes.

(Click on image to enlarge)

GBP/AUD spiked up into wave »v« of 3, but with current sharp turn down, seems like it's slowing down within a higher degree wave 4 correction, which can retrace the price back to 1.95 – 1.94 support zone before a bullish continuation for the 5th wave.

(Click on image to enlarge)

For more analysis like this you may want to watch below our recording of a latest live webiner streamed on July 29, 2024: 

More By This Author:

EURGBP Is Coming Lower Out Of A Triangle Into A Support Area
Ethereum Is Poised For More Gains
ETH/USD: Buy Next Dip