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Elliott Wave Analysis On GOLD And EURUSD

GOLD

Gold is higher at the moment after earlier three wave drop which appears to a completed corrective set-back that is now pointing up to 1288 equality level, but ideally this is going to be a sharp leg up into black wave 3 towards 161.8% placed near 1300. Invalidation level is at 1256; we are bullish as long as it holds.

GOLD, 1H

Gold 1-Hour Chart


EURUSD

EURUSD found some intraday support earlier around 1.1375 where we think pair might completed wave B so we stay bullish for that important 1.4080 level; NFP spike that can be retested before real strong bearish price action comes in play. We might be interested in shorts around that area.

EURUSD, 1H

EUR/USD 1-Hour Chart
Larger Image

 


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