GBPUSD and EURUSD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Tue, Feb 3, 2015
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GBPUSD is already recovering, making first leg up within wave E that can retrace with three subwave back to around 1.5170-1.5200 area where we will pay attention to new bearish reversal sings, as triangle would then be near completion.

GBPUSD 1h Elliott Wave Analysis

GBPUSD 1-Hour Elliott Wave Analysis Chart

EURUSD broke to the upside, just few hours after we published our intraday chart with bullish view for wave C. Price is now at new high of the week and based on strong intraday momentum we may see extensions towards 1.1500-1.1540 Fibonacci resistance area. Ideally pair will turn down from there on completed corrective fourth wave from 1.1094 low.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart

 


 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

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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