Elliott Wave Analysis For EURUSD and GBPUSD
EURUSD is trading very slow, but pair however reached new lows so trend remains down, but the question is for how long. Low volume and slow momentum and the wave count suggest that we could see a bounce in price next week. Price is now also approaching to the lower side of a trading channel that may hold as a support so be aware a turning point, ideally from around 1.3700.
EURUSD 4h Elliott Wave Analysis
GBPUSD found some support in this week and recovered nicely above the upper trend line of a downward channel. We however need a decisive break higher and impulsive extension above 1.6654 key level that will confirm a low in place and bullish continuation for the next week.
GBPUSD 4h Elliott Wave Analysis
Written by www.ew-forecast.com