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GBP/USD set to fill the gap, EUR/USD likely to lose

The USD remains in a strong bullish trend despite the NFP miss on Friday. The loser of the day at this time is the pound that is falling on the latest polls favoring a Yes vote in the Scottish referendum. We have seen a big gap down in the middle of a black wave 3 that can be counted in five waves, so a rally may follow soon back up to fill the gap.

GBP September 8 2014 technical Elliott Wave Analysis currency trading forex
GBPUSD 1h Elliott Wave Analysis

EURUSD did not go far so we see prices still moving sideways in wave iv) that may test 1.2990-1.3000 area to complete an a-b-c pullback. Sooner or later EURUSD will decline through 1.2900.

EURUSD 1h Elliott Wave Analysis  

EUR September 8 2014 technical Elliott Wave Analysis 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!