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

  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