EURGBP Short-term Elliott Wave Analysis 4.8.2015

Preferred view suggests pair is in a double three or ((w))-((x))-((y)) Elliott wave structure down from 0.7384 peak when dip to 0.7223 completed wave ((w)) and wave ((x)) ended at 0.7380 with a full test of 0.7384 peak. Wave (w) of ((y)) ended at 0.7285 and recovery to 0.7315 was wave (x). Pair is now trading lower in wave (y) of ((y)) which is expected to unfold in 3 swings and while below 0.7315, we expect to see another push lower toward  0.7217 – 0.7193 area to complete a ((w))-((x))-((y)) Elliott wave cycle from 0.7384 peak. Above area is expected to produce a bounce in 3 waves at least.

EURGBP 6020150408132034

We do Elliott Wave Analysis of 41 instruments in 4 time frames (Weekly, Daily, 4 Hour and 1 Hour) with 1 hour charts updated 4 times a day so clients are always in loop for the next move. Please feel free to come visit around the website and click Here to Start your 14 day Trial (No commitments, Cancel Anytime).

Back

Subscribe to our Forex Blog

First Name: *
Last Name: *
Your Email Address: *