Elliott Wave Analysis: EURUSD and GBPUSD

By: Gregor Horvat | Thu, Dec 8, 2016
Print Email

EURUSD

EURUSD is turning sharply lower after a potentially completed A-B-C rise at 1.0850/1.0900 area that we highlighted it as important already at the start of the week. We see current turn down acting fast and accelerating, so it's likely a new impulse that may send us much lower in sessions ahead, ideally back to 1.0500 but after we see a daily price close.

EURUSD, 1h

EUR/USD 1-Hour Chart


GBPUSD

Cable is turning down from our highlighted resistance area that suggests a completed minor a-b-c- bounce, so new leg down can be here for a drop below 1.2570 swing low. Invalidation level for now remains at 1.2773.

GBPUSD, 1h

GBP/USD 1-Hour Chart

 


Interested in our services? Then visit our homepage at www.ew-forecast.com and take a glace at some of our charts. You can even subscribe to our Twitter account -> @ewforecast

 


 

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.

EW-Forecast: To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.

Copyright © 2013-2017 Gregor Horvat

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