The USD is under pressure while stocks are moving sideways. The EURUSD has finally managed to reach the 1.3700 region that was in view for the last couple of weeks. Well, the market is moving in a quite impulsive manner higher as shown on the intraday chart below so we suspect that the market will recover even more in the next few sessions.
We are looking up 1.3720/1.3740 in the short-term while 1.3634 must hold, otherwise we will have to look on the downside.
EURUSD 1h Elliott Wave Analysis
We went long on AUDUSD yesterday with our members and so far the market broke nicely to new highs that can make a room for 0.9480 in the short-term if we consider a possibility of a wave three in progress. If we are correct then the uptrend acceleration should follow soon, while 0.9411 must stay untouched! Stops on that one are now above the entry so it’s a risk-free trade.
AUDUSD 1h Elliott Wave AnalysisÂ
