Elliott Wave Analysis: GOLD and EURUSD Intraday
EURUSD is moving sideways within wave b) so our view here is unchanged. We are looking for a push up into wave c), third leg of recovery that may reach 1.3774 in this week before market turns down again.
EURUSD 1h Elliott Wave Analysis
Traders, did you know that triangle can also occur within a triangle pattern?! I am observing such situation on gold within wave e) final leg of a big triangle in wave (b). Notice that the price action is still sideways so this count makes sense, but it does not change our interpretation. We still expect a break to the downside, but maybe after another 1300 test.
GOLD 1h Elliott Wave Analysis
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Author: Gregor Horvat
Gregor Horvat
www.ew-forecast.com
Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.
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