EURGBP and EURUSD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Nov 20, 2014
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A week back I already posted count for EURGBP when I highlighted ongoing complex corrective wave 4. I was looking for wave (c) rally as part of a triangle, but notice that move from 0.7800 is sharp with personality of an impulse. As such, it's probably part of a flat correction but still need one more push up to 0.8050/0.8080 area to complete a rally. A bearish reversal could be seen from that region in the next 24-48hours of trading.

EURGBP 4h Elliott Wave Analysis

EURGBP 4-Hour Elliott Wave Analysis Chart

An intraday decline on EURUSD to 1.2500 looks corrective so obviously bulls are still underway within current wave 4 that is now underway for almost two weeks. We are looking at updated count with ending diagonal that can be taking place in wave (c). If that is the right count, then top will form around 1.2610/30 area. Generally speaking we still think that sooner or later pair will turn south.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of, but before that he was working for Capital Forex Group and His feature articles have been published on:,,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc. He recently won the award on for Best Forex Analysis in 2016. At 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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