• 4 hours Walmart Reaches Out To Chilean Government For Protection
  • 8 hours The Most Exciting Gold Find Of The Decade
  • 10 hours Mining Boom Sparks Deforestation Concerns
  • 1 day The Cannabis Culling Has Wall Street Disappointed
  • 1 day Vigilante Offers $100,000 Bounty To Hack Banks
  • 2 days The Dairy Industry Is Dying
  • 2 days The Most Impressive Electric Vehicle Of The Year
  • 3 days Gold Miners Are Having A Stellar Second Half
  • 4 days How 3D Printing Is Turning Each And Every Industry On Its Head
  • 4 days Is The $3.5 Trillion Healthcare Industry About To Get Much More Transparent?
  • 5 days Gamblers Are Betting Big On Trump’s Impeachment
  • 5 days Even Banks Can't Answer Aramco's Trillion Dollar Question
  • 6 days Will Bezos Buy The Seattle Seahawks?
  • 6 days 6 Tech Trends Transforming The Travel Industry
  • 7 days Ousted Uber CEO Cashes Out $500 Million In Stock
  • 7 days Trump Prepares For Another Key Tariff Decision
  • 7 days The Free Money Bubble Is About To Burst
  • 8 days The Crushing Reality Of Poverty In America
  • 8 days Should You Buy Into The World’s Largest IPO?
  • 8 days The Infinite Possibilities Of Cosmic Energy
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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 EURUSD And GOLD

EURUSD

EURUSD is trading quite nicely to the dowsnide, recently breaking the lower corrective channel line, suggesting that a new bearish cycle is underway. As such the first impulse down si blue wave i, and its contratrend movement may be wave ii, which is midway through its completion. This correction in wave ii may reach the Fibonacci ratio of 61.8, before again making a reversal lower.

EURUSD, 1H

EUR/USD 1-Hour Chart


GOLD

As expected, gold is turning down following a completed five wave rise from 1337 to 1375 that accomplished wave five of a higher degree. We see some strong bearish intraday momentum coming in which may drive price back down to former wave four, at 1337, and even lower if we consider that bigger corrective set-back can be in the cards based on the 4h chart.

GOLD, 1H

Gold 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