Elliott Wave Analysis For EURUSD and GBPUSD

By: Gregor Horvat | Fri, Mar 28, 2014
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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

EURUSD 4-Hour Elliott Wave Analysis Chart

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

GBPUSD 4-Hour Elliott Wave Analysis Chart

 


Written by www.ew-forecast.com

 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

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 Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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