• 764 days Will The ECB Continue To Hike Rates?
  • 765 days Forbes: Aramco Remains Largest Company In The Middle East
  • 766 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,166 days Could Crypto Overtake Traditional Investment?
  • 1,171 days Americans Still Quitting Jobs At Record Pace
  • 1,173 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,176 days Is The Dollar Too Strong?
  • 1,176 days Big Tech Disappoints Investors on Earnings Calls
  • 1,177 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,179 days China Is Quietly Trying To Distance Itself From Russia
  • 1,179 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,183 days Crypto Investors Won Big In 2021
  • 1,183 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,184 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,186 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,187 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,190 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,191 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,191 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,193 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: EURUSD and GBPUSD

EURUSD

EURUSD moved nicely higher yesterday after the ECB press conference that finally sent EURUSD out of the range. As such, we believe that Euro will continue higher within current wave (v) towards 1.3680. Once those levels are tested we need to be aware of a bearish reversal in minimum three legs. As per Elliott Wave Principle, after every five waves move correction takes place. But break of 1.3500 price level will suggest that in Euro there is already top in place.

EUR/USD 4-Hour Chart

 

GBPUSD

GBPUSD is moving higher after we called a completed wave (iv) last week at 1.5950 in our members area. So if that was wave four then we know that market is now in wave five, final leg within an impulsive rally that has began back on Aug 28th. This wave five is also a motive wave, which means it must be subdivided by five smaller sub waves. Therefore, we expect more upside in the next few days. Ideally we will see a test of 1.6300 region, from where we could see a bearish reversal, into a larger corrective pull-back. A divergence on the RSI also suggests that pair is in final stages of a recovery. But lets focus on one direction at the time; for now that is up to 1.6300.

GBP/USD 4-Hour Chart

 


Written by Elliott Wave Analysis Services Try EW-Forecast.com's Services Free For 7 Days

 

Back to homepage

Leave a comment

Leave a comment