Home Crude looks bullish, GBP could bounce – Elliott Wave
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Crude looks bullish, GBP could bounce – Elliott Wave

Crude OIL

Crude oil is making a nice bullish run in the last few days with a very strong volume and momentum so it seems that energy may see much higher prices this week. In fact, we are tracking an impulsive price move, now in wave three of three that can be headed up to 46 and 47 levels while the market is above 43.84.

Crude OIL, 30Min

OIL 30M

GBPUSD

GBPUSD keeps moving lower, but possibly in the fifth wave of a decline from 1.3090 with a shape of a wedge that can be an ending diagonal. Ending diagonal is a reversal pattern that occurs at the end of a price move, so be aware of a bullish turn, ideally up from a new low that can be found near 1.2860/1.2880.

GBPUSD, 1H

GBPUSD 1

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!