EUR/USD is bullish in the short term; AUD/USD to fall
AUD/USD Daily Outlooks, EUR/USD Daily

EUR/USD is bullish in the short term; AUD/USD to fall

Based on the latest price action, we assume that the USD could move higher soon, especially against the commodity currencies after a strong recent downturn in AUD/USD and an upwards move in USD/CAD.

However, the big question is still what is going on EURUSD?! Well, an incomplete correction from the March low is still a valid count, but for now we will focus on short-term waves that are pointing to 1.0100, no matter if it is going to be wave (c) or wave (iii). The reason for short-term bullish look is a five wave move up from around 1.0800 on Friday.

EURUSD 1h Elliott Wave Analysis

EURUSD Elliott Wave Analysis March 30  2015 technical outlook

 

As you will know, our big trends for the buck suggest a stronger USD ahead, so our attention will be on Long USD positions. We are already tracking a few pairs, such as AUDUSD, USDCAD and USDJPY.

On AUDUSD there is possibility to count a downside reversal in an impulsive manner, but we need five down to confirm that structure. In that case, I would be interested in shorts in upcoming wave two.

AUDUSD 1h Elliott Wave Analysis

AUDUSD Intraday Elliott Wave Analysis March 30  2015 technical outlook

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Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!