Home GBPUSD heads for 1.5740; EURAUD looks higher – Elliott
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GBPUSD heads for 1.5740; EURAUD looks higher – Elliott

GBPUSD is moving higher in a sharp manner after UK CPI came out above expectations. On cable we see a completed flat correction at 1.5560 so new highs should follow as the current upward reaction looks impulsive. We see room for a rally up to around 1.5720-1.5740 area for wave C.  

GBPUSD 1h Elliott Wave Analysis

GBPUSD Elliott Wave analysis August 18 2015 technical forex trading

 

EURAUD bounces nicely this morning, now breaking out of a corrective channel that suggests a completed wave (4) at recent low. I could be looking for new longs soon, but want to see 1.5142 broken. Then we will keep an eye on wave 2).

EURAUD 1h Elliott Wave Analysis

EURAUD Elliott Wave analysis August 18 2015 technical forex trading

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!