Elliott Wave Analysis On EURGBP And NZDUSD

Gregor Horvat

EURGBP: Intraday structure has changed a little in the last few hours, but nothing important for now. What really matter is that price move from recent high is slow and choppy; a clear personality of a contra-trend price move that suggests more upside in sessions ahead since we see wave four here on one our chart. Ideally fifth wave will lift price up to around 0.8700 or maybe 0.8800 by the end of the week.

EURGBP Hourly Chart

EURGBP Hourly Chart

NZDUSD: 4h chart shows a shape of an ending diagonal that suggests a reversal this week because of slow and overlapping formation. Ideally, bears will show up with an impulsive sell-off towards the lower side of red support line which would be nice indication of a reversal. In that case we would be considering short entries.

NZDUSD 4 Hour Chart

NZDUSD 4 Hour Chart

Source: www.ew-forecast.com

Comments

comments