Elliott Wave Analysis: EURUSD And GBPUSD

By: Gregor Horvat | Fri, Jan 24, 2014
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EURUSD: Flat In Wave 2

EURUSD reversed sharply to the upside in this week from 1.3505 level where we see a completed three wave decline in wave B. As such, current rally represents an impulse wave C that is most likely part of an expanded flat in wave 2). If our count is correct then we still need too see a little bit higher levels to complete a minor five wave rally. Ideally pair will make a top around 1.3740.

EURUSD 4h Elliott Wave Analysis

EURUSD 4-Hour Elliott Wave Analysis Chart

GBPUSD: Uptrend Continuation

GBPUSD is accelerating to the upside now already well above 1.6600 high from the end of December so market is back in bullish mode. We are tracking an updated count now with bullish impulse underway up to 1.6700. At the moment we see prices rally in wave (iii) so be aware of more upside after wave (iv) retracement that may show up in the next few sessions.

GBPUSD 4h Elliott Wave Analysis

GBPUSD 4-Hour Elliott Wave Analysis Chart


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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