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GBPUSD Moves For The Final Push Up, USDCAD Looks For

On GBPUSD we have a slightly different outlook for the short-term. On that pair we see the possibility for another push up, above 1.5800 before the market turns down. We see wave (iv) now moving down to around 1.5630 where support can cause another bounce.

GBPUSD 1h Elliott Wave Analysis

GBPUSD Intraday Elliott Wave Analysis May 19 2015 technical chart

USDCAD can be interesting for short-term traders as the rally from the low can be counted in five waves, so the bulls could continue after a three wave set-back. We see nice support coming around 1.1980.

USDCAD Elliott Wave Analysis

 

USDCAD Intraday Elliott Wave Analysis May 19 2015 technical chart

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!