EURUSD finally broke to the upside: a move which was expected after a few days of sideways price action in a shape of a triangle pattern. The pair already passed the 1.3400 resistance level which now opens the door for 1.3500 or even 1.3550 level for the next few days. The trend is bullish as long as market trades above 1.3260. Meanwhile, any pull-back to 1.3350 should prove corrective. GBPUSD The pound fell to a new low against the USD and slowed down just 5 pips from 1.5750 projected level. Notice that pair now has five waves down from 1.6180: this is the first evidence of a coming bounce, especially if we respect the bullish divergence on the RSI. The larger pull-back however could prove corrective and may stop at 1.5900 swing level that will may react as a resistance. Get more analysis and Elliott Wave forecasts directly from www.ew-forecast.com. Get free access now through 7-Day Trial Offer. You can also follow us on twitter @ewforecast 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! View All Post By Gregor Horvat Opinions share Read Next Forex Analysis: GBP/USD Maintains Bearish Stance after Break Down James Chen 10 years EURUSD finally broke to the upside: a move which was expected after a few days of sideways price action in a shape of a triangle pattern. The pair already passed the 1.3400 resistance level which now opens the door for 1.3500 or even 1.3550 level for the next few days. The trend is bullish as long as market trades above 1.3260. Meanwhile, any pull-back to 1.3350 should prove corrective. GBPUSD The pound fell to a new low against the USD and slowed down just 5 pips from 1.5750 projected level. Notice that pair now has five waves down from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
