Euro Currency Pairs Elliott Wave Analysis
EURUSD is higher as speculators see ECB much more hawkish than the Fed; a trend that may resume also after ECB press this Thursday.
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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
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
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Still an interesting theory, that somehow graphic solutions can predict emotion driven activity.