Elliott Wave Analysis: EURUSD And GOLD (XAUUSD) Intraday

EURUSD is at new high of the day, now in third leg of recovery from the low. The question is if this can be wave (iii) of an impulse, heading up to 1.3830/50. To soon to confirm but if we get an extended rally I would be interested in EUR longs. Move back beneath 1.3724 calls for a new leg down to 1.3700 before bottoming.

EURUSD 1h Elliott Wave Analysis

GOLD is at new swing low of the day, now looking like a completed running triangle in wave iv) so price could extend losses down to 1280 within wave v). 1298 should hold now, otherwise it’s not a triangle.

GOLD 1h Elliott Wave Analysis

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