GBPUSD and EURUSD Intraday: Elliott Wave Analysis

By: Gregor Horvat | Tue, Feb 3, 2015
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GBPUSD is already recovering, making first leg up within wave E that can retrace with three subwave back to around 1.5170-1.5200 area where we will pay attention to new bearish reversal sings, as triangle would then be near completion.

GBPUSD 1h Elliott Wave Analysis

GBPUSD 1-Hour Elliott Wave Analysis Chart

EURUSD broke to the upside, just few hours after we published our intraday chart with bullish view for wave C. Price is now at new high of the week and based on strong intraday momentum we may see extensions towards 1.1500-1.1540 Fibonacci resistance area. Ideally pair will turn down from there on completed corrective fourth wave from 1.1094 low.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart

 


 


 

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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