Elliott Wave Analysis: EURUSD And GOLD (XAUUSD) Intraday

By: Gregor Horvat | Mon, Mar 31, 2014
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EURUSD is at new high of the day, now in third leg of recovery from the low. The question is if this can be wave (iii) of an impulse, heading up to 1.3830/50. To soon to confirm but if we get an extended rally I would be interested in EUR longs. Move back beneath 1.3724 calls for a new leg down to 1.3700 before bottoming.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart

GOLD is at new swing low of the day, now looking like a completed running triangle in wave iv) so price could extend losses down to 1280 within wave v). 1298 should hold now, otherwise it's not a triangle.

GOLD 1h Elliott Wave Analysis

GOLD 1-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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