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GBP/USD can continue towards 1.6170, EUR/AUD awaiting a corrective

GBPUSD is showing a slightly different count than EUR, but it is also bearish. We see a possibility for an immediate continuation down towards 1.6170 within wave iii. The intraday trend for GBP remains down as long as 1.6292 holds in place.

GBP USD Elliott Wave Analysis currency trading technical forex outlook September 29 October

GBPUSD 1h Elliott Wave Analysis

EURAUD has recovered very strongly in the last three weeks from 1.3800, a move that can be counted in five waves, ideally we are now within an ending diagonal forming in wave 5), so the current upside can be limited. We expect a corrective reversal in October that can then be an opportunity to join the trend.

EURAUD Elliott Wave Analysis currency trading technical forex outlook September 29 October

EURAUD 4h Elliott Wave Analysis

Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!