• 17 hours 3 Restaurant Stocks In Full Recovery Mode
  • 1 day Bitcoin Is Driven By Testosterone
  • 6 days Quantum Computing Is The Newest Megatrend In Silicon Valley
  • 7 days How To Invest In The Cybersecurity Boom
  • 9 days Investors Are Patient With Unprofitable Giants
  • 11 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 13 days 5 Stocks To Keep A Close Eye On This Year
  • 14 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 15 days Central America Is Ready For The Bitcoin Hustle
  • 17 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 18 days Top Performing Stocks As Inflation Fears Grow
  • 19 days US Airline Stocks Take A Beating On New EU Restrictions
  • 20 days This IPO Could Open Sustainable Fashion Floodgates
  • 21 days Crypto Crime Nets Another $2B Fraudster
  • 23 days This Week’s Hottest Meme Stocks
  • 24 days Why World Markets Should Be Watching Germany Closely
  • 26 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 28 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 30 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 31 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

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 GBPUSD And Crude OIL

GBPUSD

On GBPUSD we can see a strong decline from 1.3373 high which is a clear impulsive structure, but traders should not fall in love with this weakness too much, as we see decline in final stages of wave C) of a big corrective set-back. That said, weakness can be limited this week, but short-term traders may still see a leg down to 1.2950 area before intraday trend turns to the bullish side.

GBPUSD, 1H

GBP/USD 1-Hour Chart


Crude OIL

Crude oil is trading sharply higher for the last few days, so energy might have finally bottomed if we consider an impulsive structure in progress on intraday chart. On 30min we are looking at wave three of three that can be headed up to 43.00 area from where market may see a minor corrective set-back before uptrend resumes to much higher levels. We see this market now in bullish mode as long as 41.80 level is now breached.

Crude OIL, 30Min

Crude Oil 30-Minute Chart

 


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

 

Back to homepage

Leave a comment

Leave a comment