EURGBP Short-Term Elliott Wave Analysis

By: Elliottwave-Forecast | Wed, Apr 29, 2015
Print Email

Preferred Elliott Wave view suggests $EUR/GBP is in wave (X) correction up from wave (W) low at 4.22.2015. Wave (X) correction takes the form of a FLAT (ABC) structure. Wave "A" ended in 3 waves at 0.7212, followed by 3 waves correction in wave "B" towards 0.713. Wave "C" of (X) rally from 0.713 unfolds in 5 swings with wave ((i)) at 0.717, wave ((ii)) at 0.7136, wave ((iii)) at 0.7225, and wave ((iv)) at 0.719. Pair is currently expected to complete wave ((v)) towards 0.7245 - 0.7282 area. The last swing higher in wave ((v)) would complete wave (X) FLAT and divergence should be intact in the next push higher.

As the trend is lower (as indicated by the red arrow), we don't like buying the pair into the proposed wave ((v)) rally. We expect to see sellers from 0.7245 - 0.7282 area for 3 waves lower at minimum per Elliott wave hedging concept.

EURGBP Short-Term Elliott Wave Analysis Chart
Larger Image

 


If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

 


 

Elliottwave-Forecast

Author: Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 41 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Copyright © 2015-2017 Elliottwave-Forecast.com

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com