Home Euro And Cable: Temporary Recovery
Opinions

Euro And Cable: Temporary Recovery

EUR/USD: A rally in this past week through falling trend line connected from 1.425 top suggests that an impulsive wave (1) is finished and that larger corrective pull-back is underway.

This is a blue wave (2), which must be subdivided by three legs before we may look for a downtrend continuation again. Nice resistance/reversal area for this wave (2) comes in at 1.3200-1.3500 range!

If you want updates and more technical analysis, then you can join our services  here.

EUR USD Elliott Wave Analysis January 23 2012

Advanced Market Forecasting and Technical Analysis! Get timely and accurate analysis today and take advantage of it in your trading! You   can join our services here.

GBP/USD

Cable rallied sharply in this past week with an increasing bullish momentum and the weekly close, which in fact also broke through falling trend line as shown on the chart. As such, we decided to adjust the wave count into more liekly scenario; incomplete wave 2) expanded flat formation. In this case price will rally above 1.5770 wave A top in coming week.

GBP USD Elliott Wave Analysis January 23 2012

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.