• 17 hours Hawkish Fed Sends Gold Prices Crashing
  • 2 days Bezos Is Heading To Space This Sunday
  • 5 days El Salvador’s Surprise Bitcoin Move
  • 8 days Markets Unfazed As Inflation Hits 13-Year High
  • 9 days How the Token Economy is Disrupting Financial Markets
  • 11 days FBI Investigating 100 Types Of Ransomware Attacks
  • 13 days Fed Ends Corporate Credit Emergency Lending Program
  • 15 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 16 days The Real Reason Your 401k Has Been Lagging
  • 17 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 19 days The Market Is Ripe For Another GameStop Saga
  • 22 days Senate Grills Big Banks Over Pandemic Opportunism
  • 23 days Cannabis Has A Major Cash Problem
  • 24 days Ransomware Netted Criminals $350M In 2020 Alone
  • 25 days Russia Is Taking On Google
  • 26 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 27 days Ohio Residents Brave Vaccine for Chance To Win $1M
  • 29 days Inflation Is Coming. Are You Prepared?
  • 30 days Travel Might Get Another Supersonic Disruption
  • 31 days The World Is Running Out Of 6 Key Resources
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

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 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