Home Elliott Wave Analysis GBPUSD and AUDUSD September 8 2016
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Elliott Wave Analysis GBPUSD and AUDUSD September 8 2016

GBPUSD

GBPUSD made a nice push lower from our resistance levels around the 1.344 mark, so now we are tracing out the blue wave ABC correction with wave A   already completed and wave B unfolding now. Resistance for wave B comes in around 1.3380 area, from where wave C should reach lower levels to around the area of the former wave iv).

GBPUSD, 1H

gbpusd-1-3

AUDUSD

On the 1h chart of AUDUSD, we are observing a higher degree of impulsive structure taking place in black wave A, that seems to be near completion. That said, we see the price trading in a probable ending diagonal in blue wave v-circled of A, that could indicate a reversal lower after its completion. Ending diagonals are powerful reversal patterns, that can push markets in the opposite directions after they are recognized.

AUDUSD, 1H

audusd-1-2

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!