Elliott Wave Analysis On EURUSD And Silver

By: Gregor Horvat | Fri, Jul 8, 2016
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EURUSD

EURUSD is all-over the place; first reaction was down and then a spike up to 1.1111 resistance where bullish price may be rejected. We see potential expanded flat so new surprise can follow once again, this time to the bearish side.

EURUSD, 1H

EUR/USD 1-Hour Chart


Silver

Metals where down following the report but not for long. Silver found a support around 19.20 which could be low of a wave 4) so new bullish leg can be coming in play. Price is already above the upper channel resistance line but we want to see 20.50 broken for a bullish leg up to 21.60.

Silver, 1H

Silver 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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