GBPUSD Elliott Wave Forecast 1.17.2017

GBPUSD 6020170116212942

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave W ended at 1.2198 and wave X ended at 1.2432. Internal of wave (Y) is unfolding as a double three where wave ((w)) ended at 1.2037 and wave ((x)) bounce is proposed complete at 1.2317. The pair has since broken below 1.2317, suggesting that the next leg lower in wave ((y)) of (Y) has already started. Near term, pair is correcting the … [Read more...]

GBPUSD Elliott Wave Forecast 1.13.2017

GBPUSD 6020170112210917

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is proposed complete at 1.2317. Near term, while bounces … [Read more...]

GBPUSD: Elliott Wave Analysis calling for new lows

GBPUSD Video thumb

GBPUSD preferred Elliott wave structure suggests pair is in an Ending Diagonal structure where wave ((4)) completed on 12/6 at 1.2775. Each sub-wave of a diagonal pattern sub-divides in 3, 7 or 11 swings. As the chart below shows, wave (W) of ((5)) completed at 1.2198 followed by a 3 wave bounce to 1.2432 which completed wave (X). This bounce failed in 100 - 123.6% extension area of W-X (1.2390 - 1.2435) and offered a selling opportunity there. Pair has since broken below 1.2198 low and is now … [Read more...]

GBPUSD Elliott Wave Forecast 1.12.2017

GBPUSD 6020170112093724

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is in progress as a double three and can reach as high as … [Read more...]

GBPUSD Elliott Wave Forecast 1.11.2017

GBPUSD 6020170110215656

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2104 and wave X bounce is in progress to correct cycle from 1/5 high (1.2432) … [Read more...]

Aftermath of December US Non-farm payrolls

GBPUSD 5 Jan 1 Hour Mid-day NY

Last Friday, US added 156,000 job numbers in December Non-farm payrolls followed by a 204,000 rise in November previously, which was bigger than estimated. Whereas the Median forecast for December Non-farm payrolls was estimated at 175,000 jobs. The jobless rate marked up to 4.7 percent as the labor force grew. And wages rose 2.9 percent from December 2015, thus helped US Dollar & Indices to rally, significantly pushing SPX & NASDAQ to new all-time highs. Average hourly earnings advanced … [Read more...]