• 823 days Will The ECB Continue To Hike Rates?
  • 823 days Forbes: Aramco Remains Largest Company In The Middle East
  • 825 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,225 days Could Crypto Overtake Traditional Investment?
  • 1,230 days Americans Still Quitting Jobs At Record Pace
  • 1,232 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,235 days Is The Dollar Too Strong?
  • 1,235 days Big Tech Disappoints Investors on Earnings Calls
  • 1,236 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,238 days China Is Quietly Trying To Distance Itself From Russia
  • 1,238 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,242 days Crypto Investors Won Big In 2021
  • 1,242 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,243 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,245 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,246 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,249 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,250 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,250 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,252 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On GOLD And GBPUSD

GOLD

Gold made only three waves of a decline down to 1337 which is a structure of a contra-trend price action, so traders should be looking for more upside in the very near term, as wave 5 may already be underway now. There is room for 1365-1370 in the short-term.

GOLD, 1H

Gold 1-Hour Chart


GBPUSD

After price completed a triangle pattern at the 1.3344 mark, pair made a nice impulsive drop below the lower triangle line, suggesting that correction is over and that a new bearish cycle is underway. For now we believe that price will continue to reach lower levels and ideally make a reversal higher around the 261.8 Fibonacci projected area.

GBPUSD, 1H

GBP/USD 1-Hour Chart

 


Interested in our services ? We have a Special Offer : Get First 2 Months For The Price Of 1!! Grab the opportunity now at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment