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EURUSD is still trading in a wide range. We are tracking a possible triangle in wave 4 in a larger degree where we could be in the last stages of completion with a wave E on track now. For now and as long as we hold on to the unbroken wave C highs we will hold this view. No major news is expected today during the European trading hours.

Elliott Wave Analysis –  EURUSD 1h

EURUSD_1h Elliott Wave Analysis technical trading July 3 2015

NZDUSD is in a possible impulsive wave after a sharp fall in the 5th wave of ending a diagonal pattern. As long as we hold the recent lows we should look for a completion of the 5th wave advance to the upside. Currently we see the recent price action as a pullback in wave 2 in the wave 1 of a larger degree and expect a full 5 wave pattern to develop as long recent lows are unbroken.

Elliott Wave Analysis – NZDUSD 1h

NZDUSD 1h Elliott Wave Analysis technical trading July 3 2015

 

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