GOLD and NZDUSD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Nov 6, 2014
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No change on gold so far; move is slow and sideways so we see it as a minor correction within ongoing decline of wave (v) that still can fall to 1120/1130 area before bounce can be found.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

It's been few days since I looked on NZDUSD, as we put it on the side after closing a nice short trade on Monday. However, now again this pair can be forming a new very interesting pattern, maybe an ending diagonal in wave 5 which is a reversal pattern. However, there is room for a decline towards 0.7600 before market can be bottoming. For a bottom confirmation, we however will need to see an impulsive bounce. For now, that's not the case, so trend is down, but its a good count to keep an eye on.

NZDUSD 4h Elliott Wave Analysis

NZDUSD 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 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:

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