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EURUSD watch support at 1.1543; GBPUSD has room to the

EURUSD is up from Friday’s low but the question is for how long. The larger trend is still down and on the intraday chart we can see only three waves back up to the area of a former wave four. As such, traders must be aware of more weakness if 1.1543 is broken.

EURUSD 1h Elliott Wave Analysis

EURUSD Intraday Elliott Wave technical analysis January 19 2015 currency trading forex

GBPUSD might have already accomplished a corrective rally up in wave 4 after recent reversal down from around 1.5168. Notice that the decline is overlapping but it can be counted with five waves that can be a leading diagonal so more weakness could follow in sessions ahead.

GBPUSD 1h Elliott Wave Analysis

GBPUSD 1h Intraday Elliott Wave technical analysis January 19 2015 currency trading forex

 

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!