EURGBP keeps moving lower on a daily chart, but we see it approaching important support zone.
EURGBP Daily Elliott Wave Analysis
EURGBP keeps moving lower on a daily chart, but we see it approaching important support zone. If we consider that that it’s running out of steam within an ending diagonal pattern for wave 5 of (C), then bullish reversal can be around the corner, we just need price confirmation.
EURJPY 4hElliott Wave Analysis
EURJPY came higher, up to 133 as expected, but then it fell sharply, clearly in impulsive fashion back to 130.30 area, which suggests that impulse from 128.20 is completed. As such, we see room for more weakness in the short-term to complete an A-B-C drop that can be underway within a higher degree triangle.
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Gregor 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.
