• 2 days 3 Semiconductor Stocks Looking Great On EV Demand
  • 4 days Robinhood’s $40B March IPO Is In Grave Danger
  • 5 days Are Bots Responsible For GameStop’s Massive Runup? 
  • 6 days Learning From Buffett’s $11 Billion Mistake
  • 9 days The Token Boom Spawns Digital Gold Mine in Art, Collectibles
  • 10 days The “Oil Of The Future” Is Set To Soar In 2021
  • 10 days Wealthy Could End Up Footing The Bill For States’ Budget Shortfalls
  • 11 days Could This Be The Hottest Commodity Play Of 2021?
  • 11 days JP Morgan Says Fintech Will Steal The Disruptor Show
  • 13 days Facebook Plays Dirty Down Under
  • 14 days Could This Be The Most Exciting Lithium Play Of 2021?
  • 16 days China Sidelines US As EU’s New Top Trading Partner
  • 18 days 3 Smart Ways To Play the Global Chip Shortage
  • 19 days Flying Taxis Are The Number One Speculative Bull Arena
  • 20 days Ocean Power: The Missing Link
  • 25 days Luxembourg’s Ultra-Secrecy Still Attracts Hundreds Of Billionaires
  • 26 days Robinhood Is Under Fire And Trading ‘Democracy’ Is In Question
  • 27 days Bitcoin Could Be Worth $12 Trillion In The Long-Term
  • 28 days The Biggest Tech IPO Since Uber … For Farmers
  • 30 days The Biggest Boost Yet for the Cannabis Industry
  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On GBPUSD And GOLD

GBPUSD

Traders, pound is one of the strongest today, moving also up against the USD today. We have been tracking a bearish pullback since start of the week, but now wondering if bullish turn is here after that recent bounce to 1.3200. For now it may be too soon to confirm a reversal but a new leg up in the next couple of hours would then make rally from 1.3066 in five waves, which in EW terms means a turning point!

GBPUSD, 30Min

GBP/USD 30-Minute Chart

GOLD

Gold is at a new low as expected following recent development in wave B) which was a triangle. We see current price down moving as an impulse, so it's wave C) but probably final leg of a deep corrective retracement which is in seven legs. It's a contra-trend structure that can see limited downside, ideally at 1300-1310 area. However, any bullish reversal can be confirmed only if price will bounce from our yellow box in five waves.

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