Preferred Elliott wave view is that mid-term peak has formed at 1.5123, wave A completed @ 1.4464 and wave B  in progress toward 1.4750 – 1.4792 area from where the decline should resume. Rally from 1.4463 – 1.4648 consisted of 7 swings and completed wave (( a )) of B. Pair has already tested 50% […]

Pair has been trading lower after a test of 0.8400 which we believe completed wave A (cycle from 0.8153 low). Decline so far is in 3 waves so it’s a corrective decline just like the previous updates had been reflecting. Reaction off today’s low suggests wave (( a )) is in place and pair is […]

Pair has been trading lower for the last week or so. Let’s take a look at some charts from members area to see how NEW Elliott wave theory called the move lower in GBPUSD pair GBPUSD March 10/2014 (New York Update)   GBPUSD March 12/2014 (Mid-day Update)   GBPUSD March 13/2014 (London Update)   GBPUSD […]

Preferred view is that mid-term peak has formed at 1.5123, wave A completed @ 1.4464 and wave B  in progress toward 1.4700 – 1.4750 area from where the decline should resume. We don’t like buying the pair in proposed push higher as the move up from the low is so far in 3 waves. Click HERE to […]

EURGBP is close to ending a cycle on 1 hour time frame. Short-term pair is consolidating in a triangle which is valid as far as price stays above 0.8327 low. As this level holds, expect a push higher toward 0.8400 – 0.8420 area to complete wave A and a pull back in wave B should […]

Preferred view is that a mid-term low has formed @ 0.8153 and completed wave (( B )) on the daily time frame. Pair is in wave ( v ) of (( c )) higher toward 0.8400 – 0.8420 region  to complete wave A. After that pair should make a pull back in wave B which […]