EUR/AUD Trades Higher, Eyes At 1.5400 - 1.5450

Published 08/13/2015, 04:31 AM
Updated 07/09/2023, 06:31 AM

EUR/AUD turned down from 1.5270 area and completed the corrective move with 3 waves around 1.47279. Then EUR/AUD turned up, in impulsive fashion which means that larger uptrend is back in progress. Impulses are five wave patterns, so gains are expected to continue soon as wave 4-circled is about to complete. We may now see a reversal to the upside into red wave 5, targeting levels around 1.5400 - 1.5450. We will be looking for this move higher as long as price trades above the area of red wave 1-circled.
EUR/AUD 4h Elliott Wave Analysis
EUR/AUD 4 Hour Chart

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