• 3 hours Alberta’s Unlikely Alliance With The Nuclear Industry
  • 21 hours The True Cost Of Opportunity In America
  • 1 day Why Investors Shouldn't Ignore Gold Stocks
  • 2 days Facebook Scrubs Over 2 Billion Fake Accounts
  • 2 days Dow Scrambles To Avoid Fifth Straight Weekly Loss
  • 3 days Is This The World’s First Truly Democratic Stock Exchange?
  • 3 days India’s Wealthiest Set To Hold $23 Trillion By 2028
  • 3 days First Quarter Profits Slip For World's Top Oil Companies
  • 3 days The Yuan May Be China's Biggest Weakness
  • 4 days Hedge Funds Having A Banner Year
  • 4 days Disney Heiress Asks “Is There Such A Thing As Too Much?”
  • 4 days BHP Turns Bullish On EVs
  • 4 days Investors Turn Bullish On America’s Nuclear Decommissioning Business
  • 5 days The $90M Inflatable Rabbit Redefining Modern Art
  • 5 days Huawei’s Fate In The Air
  • 5 days Tesla Slashes Prices Again
  • 5 days The Modern History Of Financial Entropy
  • 6 days Italy’s Central Bank Embraces Sustainable Investing
  • 6 days Trump Lifts Metals Tariffs To Cool Simmering Trade War
  • 6 days Researchers Push To Limit Space Mining
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: GOLD and GBPJPY

GOLD

We see gold trading in a complex correction of a higher degree, now specifically at the start of wave C) that is part of a second zig-zag. Recent minor correction in wave B) looks completed and current drop may be wave C), that can unfold a five-wave movement within the channel line and see limited downside around the previous swing ar 1246 region. Once this five wave drop of wave C) unfolds, a new recovery may follow on the commodity and ideally breach above the upper channel line.

GOLD, 1H

Gold 1-Hour Chart


GBPJPY

GBPJPY may be trading in late stages of sub-wave v) of five, which means a corrective reversal may follow in the near-term. That said the pair may see limited upside later today, or maybe tomorrow and unfold a minor three wave decline towards the region of former wave iv. A broken lower channel line would be a confirmation that bulls are over and bears may come in play.

GBPJPY, 1H

GBP/JPY 1-Hour Chart

 


Visit our website and Get more charts and forecasts with free access through 14-Day Trial Offer
You can also follow us on twitter @ewforecast
www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment