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EUR/AUD And EUR/NZD Pairs Show Short-Term Bull Setup

Gregor Horvat Wavetraders Wed Oct 23, 10:07AM CDT
Charting and analysis tablet and laptop by Pix1861 via Pixabay

EURAUD is recovering, so for now we are observing a minimum three-wave A/1-B/2-C/3 rally away from that 1.6, with more upside potential in weeks ahead, up to 1.66 area after wave B/2 pullback.
It may actually have a completed an a-b-c pullback within wave B/2 in the 4-hour chart, so be aware of a continuation higher within wave C or 3, at least up to 1.6630 area.

EURAUD 4H Chart
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EURNZD made an impulsive drop from the beginning of August till end of September, so more weakness is expected, but after a three-wave A-B-C corrective recovery that can retest 1.83 - 1.84 resistance area.
It seems to have a completed projected a-b-c corrective setback in wave B at first 1.78x support area, so watch out for a continuation higher within wave C towards 1.83 – 1.84 resistance zone. 

EURNZD 4H Chart
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On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.