GBPUSD and USDCAD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Tue, Sep 16, 2014
Print Email

GBPUSD is turning up as expected from our 50-61.8% Fibonacci levels where wave B already shows signs of a completed retracement. As such, wave C can be in the cards now for a rise up to 1.6320/1.6350 where market can be looking for a top in wave 4) rally, after a filled gap.

GBPUSD 1h Elliott Wave Analysis

GBPUSD 1-Hour Elliott Wave Analysis Chart

USDCAD turned down for a third leg of decline as expected, which is now testing 1.1000 level. That's a round figure that can turn into a support, especially if we consider wave c = a ratio at current zone. However, we need a bounce from current "do or die" zone back to 1.1070 to confirm further bullish trend for the pair.

USDCAD 1h Elliott Wave Analysis

USDCAD 1-Hour Elliott Wave Analysis Chart


Subscribe Our Newsletter If you already didn't >>



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 He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website:

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright ©