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

Elliott Wave Analysis On GBPUSD And EURUSD

GBPUSD

GBPUSD moved higher during Asian session but not to a new high, so it appears that corrective wave four is still unfolding. We are tracking idea of a triangle now which can send price still up to 1.2600, but after a completion of five subwaves.

Invalidation level remains at 1.2268.

GBPUSD, 1H

GBP/USD 1-Hour Chart


EURUSD

EURUSD keeps falling, now beneath the corrective channel line from 1.0849 which is just another confirmation for a bearish continuation. We will be waiting and tracking pullbacks in three waves that could give us an opportunity to join this bearish ride. For now it's too soon to get in, at least for me as invalidation level is too far away.

EURUSD, 1H

EUR/USD 1-Hour Chart

Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3. They appear to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility.

Basic Triangle Pattern:

Idealized Elliott Wave Basic Triangle Pattern

 


Interested in our services? We have a Special Offer: Get 14 Days Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

 

Back to homepage

Leave a comment

Leave a comment