Elliott Wave Analysis On EURUSD And Silver

By: Gregor Horvat | Fri, Jul 8, 2016
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EURUSD

EURUSD is all-over the place; first reaction was down and then a spike up to 1.1111 resistance where bullish price may be rejected. We see potential expanded flat so new surprise can follow once again, this time to the bearish side.

EURUSD, 1H

EUR/USD 1-Hour Chart


Silver

Metals where down following the report but not for long. Silver found a support around 19.20 which could be low of a wave 4) so new bullish leg can be coming in play. Price is already above the upper channel resistance line but we want to see 20.50 broken for a bullish leg up to 21.60.

Silver, 1H

Silver 1-Hour Chart

 


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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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