On May 18th $EURGBP broke the 04/26 low (0.77316) ,calling for further extension lower toward : 0.7564-0.74728 zone where it was expected to complete wave ((4)) daily pull back. A few days after, inflection area had been reached and buyers showed up immediately, making bottom at 0.7563. So far $EURGBP has made gain of 10.76% ( 800+ points rally)
The video below is a short capture from the NY Live Analysis Session held on 05/18 by EWF Founder & Chief Currency Strategist Eric Morera. He presented h4 and Daily Elliott Wave counts of $EURGBP, forecasting the decline toward reversal area :0.7564-0.74728 and further rally in wave ((5)) toward new highs.
Update charts and expected future path of $EURGBP can be found in the membership area of EWF. ( If not a member yet just sign up for 14 days Free Trial)
Proper Elliott Wave counting is crucial in order to be a successful trader. If you want to learn more on how to implement Elliott Wave Theory in your trading, feel free to join us. You will get access to Professional Elliott Wave analysis in 4 different time frames,2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more…
If you are not member yet, use this opportunity and sign up now to get your Free 14 days Premium Plus Trial.
Welcome to Elliott Wave Forecast!
Back
