Intraday Elliott Wave Analysis For EURUSD And GBPUSD
ECB's Coeur: "ECB is considering negative deposit rate very seriously". EURUSD through 1.3623 support. A sharp decline can be part of a new five wave fall. We however need to wait more, but if we get an impulse from 1.3680 then we may be looking for new shorts on EURUSD. In upcoming wave iv) 1.3623 should hold, otherwise count becomes invalid. An overlap with this figure would make decline from 1.3680 corrective and support the idea for bullish EURJPY even more.
EURUSD 1h Elliott Wave Analysis
GBPUSD turned down from resistance as highlighted yesterday, from end of wave (iii). Pullback is now already in three legs so sooner or later pair will turn back to the highs for wave (v) to 1.6500. Any deeper downward move in current wave (iv) should stop around 1.6380 support. Be aware of BOE Gov Carney speech and BOE Inflation Report at 10:30GMT.
GBPUSD 1h Elliott Wave Analysis