• 11 hours Airlines Could Recover, But Crew Remain Elusive
  • 11 hours Meet The Man Behind The World's Most Exciting Oil Play
  • 2 days Crypto-Mining Immigration Could Be The Start Of A New Trend
  • 4 days Hawkish Fed Sends Gold Prices Crashing
  • 5 days Bezos Is Heading To Space This Sunday
  • 8 days El Salvador’s Surprise Bitcoin Move
  • 11 days Markets Unfazed As Inflation Hits 13-Year High
  • 11 days How the Token Economy is Disrupting Financial Markets
  • 14 days FBI Investigating 100 Types Of Ransomware Attacks
  • 15 days Fed Ends Corporate Credit Emergency Lending Program
  • 18 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 19 days The Real Reason Your 401k Has Been Lagging
  • 20 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 21 days The Market Is Ripe For Another GameStop Saga
  • 25 days Senate Grills Big Banks Over Pandemic Opportunism
  • 26 days Cannabis Has A Major Cash Problem
  • 27 days Ransomware Netted Criminals $350M In 2020 Alone
  • 28 days Russia Is Taking On Google
  • 29 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 30 days Ohio Residents Brave Vaccine for Chance To Win $1M
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Gregor Horvat

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…

Contact Author

  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