Gregor Horvat | TalkMarkets | Page 63
Forex Technical Analyst
Contributor's Links: Wave Traders
Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of wavetraders.com, 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, ...more

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EUR/USD: Bears Can Regain Control; Possibly Reach 1.1150
EUR/USD made a spike high today at 1.1397, before market turned down for 60 pips now, which makes me think that move up was wave C final wave of a corrective advance.
USD Index: Bigger Correction Seems Over; Maybe A Turning Point In View
On USD index daily chart we are observing a big sideways, slow and overlapping price action which is a personality of a contra-trend movement.
USDCHF: Wave 5 Possibly In Progress
USDCHF is in a deep pullback since December of 2015 when pair found a high at 1.0327 which we think it's a temporary top since we see current big decline as corrective wave IV.
More Upside Can Be Seen On USD/CHF
On the intraday chart of USD/CHF we are tracking a corrective wave labeled as a double zig-zag.
GBP/USD: Triangle In Progress; Upside Can Be Limited Near 1.4400
GBP/USD is trading sideways since start of March and shows three waves in each leg so looks like that pair can be trapped in a triangle formation, making black wave IV.
Gold: Triangle In Progress
On the intraday chart of Gold we are observing an idea of a triangle pattern of a higher degree, that could be in late stages, as only wave E) is missing.
GBPUSD: Wave IV In Progress Within Downtrend
GBPUSD has turned up recently, more than we anticipated so we suspect that big recovery wave is still unfolding. We see pair in a temporary bounce, it's corrective wave IV that can even be a triangle in progress.
German DAX: Correction In View
DAX is trading at new highs as expected after earlier bounce from wave 4 levels.
Elliott Wave Analysis On EURUSD And EURGBP
A technical analysis of EURUSD and EURGBP
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