All posts by Grega Horvat

Ending Diagonal On GBPUSD Indicates A Strong Reversal; Bears May Take Over

Grega Horvat

On the 4h chart of GBPUSD we are observing final stages of an ending diagonal where final leg up can be now in progress. We are tracking wave C) after nice turn up from wave B) support levels, found near 1.2800. So far, that’s clearly an impulsive reaction up, a very strong one, so we should be aware of even higher levels at the start of the week. There is a chance that market will rise to second resistance area seen at 1.3200/1.3250. more…

Powerful Reversal Pattern On EURJPY Points Lower

Grega Horvat

EURJPY can be trading in final stages of a higher degree impulse, which means a three wave reversal lower can be in view. Current rally can be final wave 5) in the making, that is more and more looking like an ending diagonal pattern. An ending diagonal pattern is a powerful reversal pattern, that can after its completion push prices in the opposite direction. Hopefully, current Fibonacci ratio of 261.8 will act as a resistance and also push prices lower. more…