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GBP/USD can extend losses, EUR/USD looking for a correction

The USD is bullish across the board, and now finally turning up against GBP as well. We see that the falling cable already took out 1.6280 for a few pips which means that wave (ii)/(b) is done and that the price could go straight down towards 1.6200. 1.6350 is now invalidation level.

GBPUSD 1h Elliott Wave Analysis

GBPUSD Technical Elliott Wave Analysis September 25 2014 forex trading currencies
EURUSD is also in an extended decline now hit 261.8% Fibonacci extension target of wave (ii), where wave (iii) could look for a support if we consider the fact that leg from 1.2900 can already be counted in five waves. With that said, a new correction could follow in sessions ahead, up in wave (iv) to 1.2770.

EURUSD 30min Elliott Wave Analysis

 

EURUSD Technical Elliott Wave Analysis September 25 2014 forex trading currencies

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!