Author

Gregor Horvat

Elliot Wave Technical Analyst
https://www.ew-forecast.com/

Gregor Horvat is based in Slovenia (Central Europe) and has been active in the Forex market since 2003. He is a technical analyst and individual trader who also provides articles and trade plans based on the Fibonacci and Elliot Wave principles.

He mostly focuses on currencies, oil, gold, and the U.S. stock market.

He has worked for Capital Forex Group and TheLFB.com, whilst his feature articles have been published online across numerous industry websites.

Gregor Horvat is the founder of forex services on www.ew-forecast.com.

EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioural patterns based on the Elliott Wave Principle (EWP). EWP provides a method for identifying price points at which a market is most likely to turn. Knowing the probable swing and reversal points provides confirmation of where investors could enter and exit positions for the highest probability of success.


Intermediate

Elliott wave Analysis: German DAX and GBPUSD

Hi traders, German DAX is unfolding a three-wave pullback down from the 12450 highs, which can be labelled as a higher degree wave B). We see currently sub-wave C of B) in play which can look for support near the 12170/12100 region. A later rally in impulsive fashion would indicate a bullish turn and more … Continued

Intermediate

USDCHF and AUDJPY Looking Lower

USDCHF is unraveling a beautiful bearish impulse from the highs, with current recovery representing wave iv) correction. This wave iv) can unfold as a double zig-zag pattern, which can later look for resistance near the Fibonacci ratio of 38.2 or higher, at the 0.9889 level, where former swing high can have the same effect, a … Continued

Intermediate

NZDUSD and S&P500 Update

Hi traders, NZDUSD is slowly turning to the upside, suggesting that a higher degree wave 3 found its low and a new temporary three-wave correction is in play. As such we are observing current intra-day impulse as sub-wave a of 4 that can look for resistance and a temporary drop into sub-wave b near the … Continued

Intermediate

AUDJPY and NZDJPY, Both Looking Lower

AUDJPY is still trading choppy, overlapping and slow, indicating that a triangle correction can be in play on the pair. We specifically see leg d of this triangle, which can look for support and a bounce into final leg e around the 82.110 zone. That said, a later breach below the 81.93 level would confirm … Continued

Intermediate

Elliott wave Video Analysis: GBPJPY and EURUSD

GBPJPY has been trading choppy and overlapping in a higher degree wave 4 in June and found a top In July, at the 149.31 to be specific. We can see that price dropped nicely from the highs, which gave us thinking maybe a new drop in five-waves can be in play for the pair. If … Continued

Intermediate

Elliott wave Analysis: GBPJPY and GBPUSD Update

Hello traders, GBPJPY can be trading at the end of a bigger, flat correction which started unfolding at the end of July. We see first and second waves a) and b) completed, so current turn up from the 145.1 area can be final wave c) with its five-wave rally. This five-wave rally can look for … Continued

Intermediate

ZeroX Is Ready For A Bullish Run

ZeroX can be approaching the end of a big bullish triangle correction. Hello everybody! Cryptocurrencies are becoming more and more interesting after a long correction in 2018, which can be approaching the end soon. There are many interesting cryptocurrencies, but we decided to share ZeroX against Bitcoin (ZRXBTC). Why against BTC? Well, there are no … Continued

Intermediate

EURCAD and GBPCAD – Elliott Wave analysis

Hi traders, As expected, EURCAD turned nicely lower from projected resistance level after a three-wave a-b-c recovery, so be aware of more weakness, while it’s trading below 1.5584 invalidation level, especially if price breaks beneath channel support line and 1.5320 level. EURCAD, 1h Just like EURCAD, even GBPCAD points lower as expected, so Canadian Dollar … Continued

Intermediate

Elliott wave Analysis: Temporary Pullback on OIL Points Above 76.00

Hi traders, Crude oil is unfolding a five-wave recovery from June lows which are characteristics of an impulse, with current turn lower unfolding a temporary correction. We specifically see price making a contracting pattern from 75.23 swing high which in Elliott wave theory resembles a EW triangle correction, a slow and sideways price activity within … Continued

Intermediate

Crude oil and Gold

Crude oil is unfolding a clear, five-wave recovery from June lows which are characteristic of an impulse. We specifically see price at the end of wave 3) which is already showing signs of a completion at 75.23 level, from where a new intra-day drop followed yesterday. This dip to 72.60 can be wave A as … Continued

Intermediate

Bears Taking over EURUSD – Elliott wave Analysis

EURUSD has made a sharp drop in three waves from February highs which was expected, as we were tracking final stages of a bigger, bullish five-wave development as wave C. Wave C represents a final leg within a three-wave movement, meaning a change in trend can follow; also price unfolded five legs within wave C, … Continued

Intermediate

CADJPY Could Face A Sharp Drop Soon

CADJPY has five waves down and three waves up, which is an ideal pattern for a bearish set-up. At the end of May, we have seen a sharp and impulsive drop with five waves and as we know after every five waves, a three-wave correction follows. As you can see, a three-wave A-B-C correction can … Continued

Intermediate

AUDUSD Looks Bearish on The Long Run

Hello traders, and welcome to another updated where we will discuss where the market is going on AUDUSD. Let’s dig in. AUDUSD completed a five-wave overlapping price movement within a higher degree wave C in 2017, which is known in Elliott wave theory as an ending diagonal. We can see that the top was found … Continued

Intermediate

USDCAD Looks Bullish Long-term

Hello traders, today we are going to look at USDCAD. USDCAD made a sharp and strong recovery in September of 2018, which can be a sign of a bigger bullish cycle. If that is the case, then turn up from 1.2245 level can be wave 1), first wave of a bigger impulsive wave three. We … Continued

Intermediate

Ripple and BCHUSD Update

Ripple turned into a bullish mode from 0.45 level with impulsive manner just like other cryptocurrencies. We know that impulses show direction of a trend, which means more upside will be expected after a three wave of retracement which is already underway, and maybe in late stages. Support zone is coming at 0.62-0.70 area. Ripple, … Continued

Intermediate

Temporary Correction on DASH Points Higher

Just like other cryptocurrencies, which are in positive correlation, we see Dash in a very impulsive rise from 280 support level, so a bullish reversal can be here, but we need some evidences to confirm that. The first evidence was a break above 460 bullish level, but to be more confident, we always need to … Continued

Intermediate

USDJPY Trading In A Complex Triangle

On the daily chart of USDJPY we see price trading in a bigger complex correction, known also as a Elliott wave triangle pattern. Specifically, we see latest drop down as leg C of a triangle completed at the 104.63 level, so current reversal from there can be wave D that can take pair to the … Continued

Intermediate

EURUSD Still Has Room For 1.2760

Good day everyone! On the daily chart of EURUSD, we can see price rising for the last year or so, and this rising price action as we can see can be counted in five waves. This five-wave pattern, which we labeled as wave C) is known as a motive wave, and must contain five waves. … Continued

Intermediate

USD Index Trapped in A Complex Correction

Today’s article is about USD index, and its 4h and intra-day movement. On the 4h chart of USD index, we see price trading in a temporary pullback of wave 4 which looks more and more like an Elliott wave triangle correction. This correction is a complex one and needs five legs to fully unfold. In … Continued

Intermediate

EURCAD On My watchlist

Hi everyone! On Friday I posted a new video analysis, talked about EUR vs CAD based on recent developments on EURUSD, USDCAD, and Crude Oil. I came out with a conclusion that bounce can be seen on EURCAD which can be even impulsive so it can take us much higher in days ahead. If you … Continued

Intermediate

S&P500, USDCAD and GBPCAD Intra-day Looks

Hello traders, and welcome to our new intra-day updates regarding various markets. Today we are going to look at USDCAD, GBPCAD and the S&P500. New leg down, below Apr 02 low may not be far away for E-mini S&P500 after that five wave fall from 2618 which confirms end of a corrective rally. S&p500, 1h … Continued

Intermediate

GBPUSD Looks Bullish!

GBPUSD is making a new higher degree bullish impulse from the lows, where a higher degree three-wave pullback found its 1.3710 support. That said, we now see a new five-wave rally in the making, which can already be an indicator for more upside. As you know, a turn in impulsive fashion can suggest a temporary … Continued

Intermediate

USDCHF Daily and 4h Look; More Weakness Expected

Hello traders and welcome to our USDCHF, daily and 4h overview. Firstly, let’s get over the daily chart, where we see swiss strongly taking price lower, ideally as you can see into red wave C), final wave of a bigger complex correction. Wave C) is part of a three-wave decline, and is an impulsive wave, … Continued

Intermediate

German DAX and EURUSD Update

Hello traders and welcome to another update, where we will cover German dax and EURUSD, and their intra-day looks. First, let’s focus on the stock market, where we see price being strongly bearish. We see a strong bearish drop, following a completed bigger triangle correction that found its resistance near the 12400 area. Current drop … Continued

Intermediate

Crude OIL and EURGBP Update

Crude oil is unfolding a nice and strong recovery from the 60.14 level where corrective wave 2 found a base. Current rally can so be labelled as black wave 3 of three, which is usually the strongest wave and can in our case take price towards the 65.00-65.80 area. From the mentioned region, a new … Continued

Intermediate

EURUSD and USDCAD intra-day Views

EURUSD made a nice bounce from 1.2256 level, where looks like corrective wave ii) found support. As such a new five-wave recovery can follow in sessions ahead and unfold red wave iii). A breach above the 1.2336 level would confirm a bullish continuation. EURUSD, 1H USDCAD made a bearish dip recently, from current highs, which … Continued

Intermediate

10 Year US notes, German BUND and EURUSD

Good morning traders! A lot of JPY cross pairs moved lower in the last 24-48 hours, probably because of higher 10 year US notes prices/lower yields after recent push out of an ending diagonal here on 1h chart of 10 year futures. 10 Year Us Notes, 1h What we see are also higher German bunds, … Continued

Intermediate

USDMXN and AUDJPY Can Turn Lower

I personally like USDMXN and its hourly structure, where I see a completed EW leading diagonal down from 18.9788 level, followed by a possible three-wave retracement that can see limited upside and a reversal near the 18.6825 level. USDMXN, 1H An ending diagonal is a powerfull reversal pattern. structure is 3-3-3-3-3 a wedge shape within … Continued

Intermediate

EURUSD and EURJPY Update

Today markets are going to be interesting and volatile as we are awaiting ECB rate decision and press conference and then BOC Gov Poloz speech. Technically speaking, dollar remains mixed, really unclear direction on AUDUSD, USDCHF and GBPUSD, while we see some kind of a clear bullish structure on EURUSD pair, while USDCAD is pointing … Continued

Intermediate

Gold and EURAUD Update

Gold is trading within final stages of a blue wave v in a bearish impulse. Specifically, we see price approaching some interesting support levels near 1304/1300 zone, from where a new trend reversal may show up, in three waves. There Fibonacci support of 61.8, 200 and 261.8 can react as support zones and push price … Continued

Intermediate

EURUSD, AUDUSD and USDCAD Updates

We have seen a very strong turn lower on Friday on EURUSD pair. Actually all dollar pairs showed stronger USD in the last few sessions, which is actually not a surprise as normally flows changes around holidays, and today is Presidents’ Day in the US. Normally this are only temporary flows, which means that current … Continued

Intermediate

Bitcoin showing evidences of a reversal

As expected BTCUSD fell down into 5th wave of wave (c) , a final leg of decline that we have been talking about a lot in our past reports. We have seen a move into our projected target zone where temproary low has been found; at the trend support line shown on a weekly chart … Continued

Intermediate

GOLD and S&P500

Precious metal such as gold, is trading in a bigger three-wave A)-B)-C) move. This labeling suggests a temporary consolidation in progress, that can find support near the lower Elliott wave channel line, and around the Fibonacci projection zone of 100.0, where wave C) would equal wave A). That said, current rally can be a temporary … Continued

Intermediate

German Dax

Good day traders! German dax can be trading in a bigger complex correction, which we labeled as big wave IV. As things stand right now, we see price unfolding a Elliott wave flat pattern, which is a complex pattern. Its structure is a 3-3-5, with final leg C having five legs and being motive (has … Continued

Intermediate

Silver and AUDUSD

Hello traders. Today, let’s take a glance at silver and AUDUSD. We can see that silver unfolded five minor waves within red wave i) at the 17.68 level, which can now suggest price to slow down and a new corrective retracement to follow. We are expecting red wave ii) to follow, with three of its … Continued

Intermediate

Elliott wave VIDEO Analysis: USD Index, EURUSD and BUND

Good day traders! EURUSD hit a new high, into 1.23-1.24 area where we said that pair may see a top and complete wave three at Fibonacci levels. So far, we have seen a nice turn lower so we would not be surprised if wave four of a higher degree is coming. Ideally there will be … Continued

Intermediate

BTCUSD Looking Towards 9200, and GBPUSD Could Go Either Way

Hello traders, and welcome to the US session updates. Let’s see BTCUSD and what a nice drop it made in the last couple of hours. Looks like corrective wave iv had ended at the 11818 level and now sub-wave v of 3 is in progress and can search for support and base around the 9200 … Continued

Intermediate

Triangle on USDMXN Points Towards New Lows

Good day traders! Today let’s take a glance at usdmxn and its possible Elliott wave triangle pattern. USDMXN is bearish, and is currently trading within a probable complex correction labeled as wave 4). We see choppy and slow price movement for the last few days, which can suggest a triangle correction to be in progress … Continued

Intermediate

Correction on Crude OIL Points Higher

Good day traders! Crude oil is trading choppy and overlapping for some time now, which suggests a higher degree Elliott triangle correction to be in progress within corrective wave 4). In fact we have seen recent drop to 55.90 as sub-wave C that has made only a three wave decline, so it looks like part … Continued

Intermediate

Triangle Correction on EURUSD Points Higher

Good day traders. On the daily chart of EURUSD, we can see that the trend is overall bullish and is unfolding a nice five-wave pattern within higher degree wave C) of IV. Wave C can be an impulse, which means it can unfold five, clear waves, which is currently the case. The other possibility would … Continued

Intermediate

Intra-day updates: Silver and German DAX

Good day traders! Silver is trading within wave v), specifically within sub-wave iv, that can see intra-day resistance at 16.18 level and push price lower. Former wave of higher degree wave iv) at 16.45 level indicates an extension of price towards the 15.86 region, where Fibonacci ratio of 61.8 can offer support and turn price … Continued

Intermediate

Bounce On EURUSD Suggests More Upside

Good day traders! Hope everybody is having a great day. Let’s start todays update with EURUSD. EURUSD has turned up in the last two weeks; it broke above the channel resistance line that normally confirms a previously completed move; in our case that was finished a-b-c decline from September high. As such, it seems that … Continued

Intermediate

Elliott wave analysis: EURUSD and USD Index

Good day traders. Hope everybody is doing well! Todays focus is on EURUSD and USD Index and its 4h movement. Let’s begin. EURUSD looks to have completed a three-wave decline near the 1.1540 region and a suggestion for a completed correction is a sharp rise in five waves. We labeled this minor five waves as … Continued