• 9 hours Ireland Balks At Biden’s Global Tax Plan
  • 3 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 7 days Facial Recognition Is Watching You
  • 8 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 8 days The Fed’s $3 Trillion Headache
  • 11 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 12 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 12 days Delta Variant Real Threat To Economic Recovery
  • 15 days JEDI Drama Continues With Microsoft Contract Cut
  • 17 days DiDi Shares Take a Beating From Chinese Regulators
  • 18 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 19 days Jobs Report Has Big Numbers, But Still Big Problems
  • 19 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 23 days Didi Just Went Public, And Uber Is Loving It
  • 23 days Islamic Finance On Track To Hit $3.7 Trillion
  • 24 days The Lumber Bubble Is Bursting
  • 28 days A New Entry In The Two Trillion Dollar Club
  • 28 days 3 Upcoming IPOs To Watch As IPO Market Rebounds
  • 30 days Welcome To The Used Car Bonanza
  • 31 days The Year Of The Retail Investor Keeps Getting Bigger
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…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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 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