GBPCAD Short-Term Elliott Wave Analysis

By: Elliottwave-Forecast | Wed, Oct 7, 2015
Print Email

Best reading of the cycle suggests that rally to 2.057 ended wave X. From this level, the pair resumed the decline in wave ((w)) as a double three structure wxy where wave w ended at 2.0168, wave x ended at 2.04, and wave y of ((w)) completed at 1.98. Wave ((x)) bounce is currently in progress to correct the decline from 2.04. Internal of this bounce suggests a double three structure (w)-(x)-(y) where wave (w) ended at 1.992, wave (x) ended at 1.983, and wave (y) of ((x)) is in progress towards 1.995 - 1.998 equal leg area before the decline resumes either to new low or at least in 3 waves pullback. We don't like buying the proposed bounce in wave ((x)). As far as 2.04 pivot stays intact during the bounce, expect the pair to resume the decline again to new low.

GBPCAD Short-Term Elliott Wave Analysis
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