Elliott Wave Analysis On GBPUSD And NZDUSD

By: Gregor Horvat | Wed, Jan 27, 2016
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GBPUSD

GBPUSD is making pullback, which can still be a corrective move within ongoing uptrend. An updated wave count shows that current pullback can be wave B which may look for a support around 1.4260, from where new rise may happen up to 1.4400 as wave C of a second zigzag.

GBPUSD, 30Min

GBPUSD 30-Minute Chart


NZDUSD

NZDUSD is bullish for wave C) up to around 0.6600 level as recent pullback from 0.6558 to 0.6424 unfolded in three waves which represents a corrective move. We think it was wave B) as part of ongoing corrective rally from 0.6347.

NZDUSD, 1H

NZDUSD 1-Hour Chart

 


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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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