• 21 hours How Big A Threat Is Climate Change To The Global Economy?
  • 2 days $120,000 Banana Gets Eaten At Art Basel
  • 3 days The Fastest Growing Energy Sectors Of 2019
  • 4 days How To Spy On Yourself: The Doorbell To End Civil Liberties
  • 5 days Analyst Predicts Tesla Stock Will Soar To $500
  • 6 days Australian Billionaire To Invest In $88 Million Struggling Solar Project
  • 7 days Twitter-Shaming: The Biggest Threat To Any Business
  • 7 days Canada Looks To Become A Major Source For Critical Minerals
  • 7 days Hedge Funds Are Piling Into This Key Commodity
  • 9 days Trade Deal Not Likely Before Christmas 2020
  • 9 days America's $16 Trillion Debt Bubble Is About To Burst
  • 10 days Black Friday Breaks Online Shopping Records
  • 10 days Tesla's Biggest Competitor Is Hiding In Plain Sight
  • 11 days Are Celebrities Good Or Bad For Cannabis Stocks?
  • 12 days Venezuela’s Crisis Continues As Maduro Spends $5 Billion On Oil Deals
  • 13 days Elon Musk Claims 250,000 Orders For Cybertruck
  • 14 days How To Survive Thanksgiving Politics With Cannabis Gravy
  • 15 days The Fragility Of Monetary Policy
  • 16 days 5 Oligopoly Stock Picks For Your 2020 Portfolio
  • 16 days $7 Trillion In Unfunded U.S. Pensions As Domestic Debt Hits A Record High
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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: GBPUSD and EURUSD

Good day traders for the US session charting!

We see USD down sharply against GBP after Brexit speech. Pound is one of the strongest today, breaking above important channel resistance line near 1.2200 which means that market completed a three wave decline in wave Y of B. As such, more gains can be in play now especially once market makes five waves up from 1.1988 low. In that case a three wave set-back can be interesting to join the trend.

GBPUSD, 1H

GBP/USD 1-Hour Chart

EURUSD is higher on intraday chart as expected, now trading close to 1.0730 resistance where upside can be limited as we see pair in late stages of a corrective wave four. However, we will still need a reversal with five waves back below the red trendline support to make sure that highs are in. Patience is the key here.

EURUSD, 1H

EUR/USD 1-Hour Chart

 


EW-Forecast.com has a special offer available on yearly membership, with 31% OFF.
Visite http://www.ew-forecast.com/service for details

 

Back to homepage

Leave a comment

Leave a comment