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On the FX board we see slow waves, but in a corrective fashion. So, our bias from last week did not change: we anticipate a higher USD. On EURUSD we see a nice rally from Oct 23, but it’s still slow and overlapping so it is probably a corrective wave that is now testing resistance at 1.2700-1.2720. We would not be surprised by a bearish turn in the next 24 hours.

EURUSD 1h Elliott Wave Analysis

October 27 2014 technical Elliott Wave Analysis for currency trading EURUSD Intraday

NDZUSD is also looking bearish after a nice five wave pattern of decline from above 0.8000 last week. A five wave move is a direction of a trend, which means the pair should continue even lower after a completed minor correction that is now in progress. We see nice technical resistance coming in at 0.7900 and 0.7950.

NZDUSD 1h Elliott Wave Analysis

NZDUSD October 27 2014 technical Elliott Wave Analysis for currency trading Intraday