Elliott Wave Analysis For GBPUSD and EURAUD

By: Gregor Horvat | Mon, Oct 6, 2014
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No change on GBPUSD; the pair is still showing a very interesting and clear bearish pattern that is pointing lower, into wave v) of (iii). On the upside price meets resistance at 1.6000 and 1.6030/50.

GBPUSD 1h Elliott Wave Analysis

GBPUSD 1-Hour Elliott Wave Analysis

EURAUD is still in a corrective phase following a completed five wave rally from around 1.3800. We are tracking a pullback that can retrace back to former wave 4), to 1.4200. That's also around 50% retracement level so this area can be very significant for a new bounce in price. We are looking now at complex W)-X)-Y) still unfolding.

EURAUD 4h Elliott Wave Analysis

EURAUD 4-Hour Elliott Wave Analysis

 


 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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