EURUSD & GBPUSD Look Towards More Downside – Elliott
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EURUSD & GBPUSD Look Towards More Downside – Elliott

Markets are slow, but the stronger USD can be seen this week as a triangle on the USD index that appears accomplished. So, if the USD is heading higher, then EURUSD should continue to the downside. On the hourly chart below we see price the moving sideways, ideally it’s wave two that can stop near 1.12670 to complete an irregular corrective move in wave two. If we are correct, then a break to the downside could be strong at the start of the week, while 1.1378 must stay untouched.

EURUSD 1h Elliott Wave Analysis

EURUSD Elliott Wave Analysis March 2015 technical chart for trading foreign exchange

We also expect a continuation lower on GBPUSD after a very strong reversal last week from the 1.5550 high where we see a completed uptrend. With that in mind, the price can break strongly to the upside this week as wave 3 can be in the cards.

GBPUSD 1h Elliott Wave Analysis

GBPUSD Elliott Wave Analysis March 2015 technical chart for trading foreign exchange


In this week’s podcast, we cover  Yellen & the hike, AUD & CAD rate previews, Jobless claims vs. USD & Greek back burner

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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 His feature articles have been published on,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc. He recently won the award on 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!