Elliott Wave Analysis: NZDUSD and EURGBP 

intraday-eurgbp

Gregor - Author BIO photoNZDUSD

NZDUSD structure depict highly corrective price action in the complex pattern XWY. Slope and overlaps suggest this move up is only a pause in a higher degree downtrend and we expect a decisive break of the corrective channel soon. If we see 0.6947 region taken outn then that will be a good sign for further continuation to lower levels and a confirmation that black wave 2 found its highs.

NZDUSD, 1H

intraday-nzdusd

EURGBP

EURGBP extended its rise in attempt to make a new high. This upward structure is still unfinished it seems with possible one more push higher to complete higher degree blue wave 4 around 0.8804 area. From there we expect an impulsive reversal lower with an ideal break of the 0.8581 level, which would suggest that more weakness may follow on EURGBP.

EURGBP, 1H

intraday-eurgbp

 

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By Gregor Horvat

 

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