No change on GBPUSD; the pair is still showing a very interesting and clear bearish pattern that is pointing lower, into wave v) of (iii). On the upside price meets resistance at 1.6000 and 1.6030/50.

GBPUSD 1h Elliott Wave Analysis

GBPUSD 1-Hour Elliott Wave Analysis

EURAUD is still in a corrective phase following a completed five wave rally from around 1.3800. We are tracking a pullback that can retrace back to former wave 4), to 1.4200. That's also around 50% retracement level so this area can be very significant for a new bounce in price. We are looking now at complex W)-X)-Y) still unfolding.

EURAUD 4h Elliott Wave Analysis

EURAUD 4-Hour Elliott Wave Analysis

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Ew-forecast.com is providing advanced technical analysis for the financial markets (Forex, Gold, Oil & S&P) with method called Elliott Wave Principle. We help traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our view and bias as simple as possible with educational goal, because knowledge itself is power.

Gregor is based in Slovenia and has been in Forex market since 2003. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets; from candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful to traders.
He was working for Capital Forex Group and TheLFB.com. His featured articles have been published in: Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu. He mostly focuses on currencies, gold, oil, and some major US indices.

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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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