Pair has broken 0.8078 low and we believe wave A completed at 0.8059. Wave B is in progress as FLAT and can get rejected between 0.8202 – 0.8245 area for more downside. We don’t like buying the pair in proposed push higher as hourly cycles are negative and like more downside after wave B is complete. This view is valid as far as pivot at 0.8432 remains intact.
Get the Elliott Wave Trading Mastery Bundle — Free
100% FreeLearn how to read the markets with more structure using practical guides on:
- Elliott Wave rules and market structure
- Fibonacci levels and price targets
- 3, 7 and 11-swing patterns
- Forex, stocks, ETFs and crypto
- Technical analysis and risk management
Plus, get free market insights, educational emails, and our Chart of the Day to keep building your skills.
Start learning today — no cost, no card required.
Related Articles
Chart Of The DayForex
Elliott Wave Analysis: EURJPY Anticipating a Broader Correction Against the Latest High
EURJPY continues to present a clear risk of a larger‑degree correction against the cycle that...
Forex
Forex Trading: Understanding the Market Behind the Price
The foreign exchange market, or Forex, is the global marketplace where currencies are bought and...
Blue Box WinsForex
GBPCAD Elliott Wave : Forecasting the Path
Hello fellow traders. In this technical blog we’re going to take a quick look at...
