Intraday Elliott Wave Analysis For EURUSD and GBPUSD
The price action on EURUSD is just awful these days. However, we have seen some upward swings in the last few sessions, so it looks like pair could be trading towards 1.3700 in this week. In fact, I finally put together a solid wave labeling that shows now third leg up in progress, that can be either wave c) or wave iii). But that's not relevant at this stage as both legs can be targeting 100% projection level, while 1.3575 holds. We will start observing some bearish scenarios if 1.3575 is taken out.
EURUSD 1h Elliott Wave Analysis
Cable is moving higher which can be another impulsive cycle in play heading up towards 1.7100, maybe even to 1.7130 where bulls can slow down as we are tracking wave 5, part of a larger five wave movement.
GBPUSD 1h Elliott Wave Analysis
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