• 587 days Will The ECB Continue To Hike Rates?
  • 587 days Forbes: Aramco Remains Largest Company In The Middle East
  • 589 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 989 days Could Crypto Overtake Traditional Investment?
  • 994 days Americans Still Quitting Jobs At Record Pace
  • 996 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 999 days Is The Dollar Too Strong?
  • 999 days Big Tech Disappoints Investors on Earnings Calls
  • 1,000 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,001 days China Is Quietly Trying To Distance Itself From Russia
  • 1,002 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,006 days Crypto Investors Won Big In 2021
  • 1,006 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,007 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,009 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,010 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,013 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,014 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,014 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,016 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On EURGBP And SILVER

EURGBP

On the 4h chart of EURGBP we can see that a decline from the high has been made in five waves, which represents only one part of a corrective blue wave 4-circled. Keep in mind that any correction should be made by minimum three legs! As such, more weakness is likely coming in days ahead, maybe to 0.8100-0.8200 area, but after a completed recovery up into a red wave B) that may look for a resistance at 0.8450-0.8490 area in the next few days.

EURGBP, 4H

R/GBP 4-Hour Chart


SILVER

On the 4h chart of SILVER we are observing an impulsive reaction of a higher degree taking place, with price currently trading in the final stages of red wave 3). As such we believe that the 161.8 Fibonacci ratio could become a temporary restiance and could move price into the direction of the red wave 4). Red wave 4) could then find its support around the upper corrective channel line and possibly make a reversal higher.

SILVER, 1H

Silver 1-Hour Chart

 


Interested in our services? Visit our page at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment