Elliott wave Analysis: GBPUSD and EURNZD Update

Intermediate

Hi traders,

Cable is still looking higher towards new highs back to 1.3400 – 1.3500 area and we can see a small bullish setup in the smaller time frame that can test 1.3100 support area before a continuation higher. However, this may get even more complex, but as long as price is trading above 1.2980, we will remain bullish.

GBPUSD, 1h

intra-day gbpusd

Yesterday’s intraday EURNZD is doing great! It’s moving nicely higher as expected and currently it’s just about to break above 1.6615 bullish confirmation level. So, if we see a decisive break and a daily close above that level, then EURNZD may stay in uptrend within wave iii) that can send price much higher.

EURNZD, 1h

intra-day eurnzd

Elliot Wave Technical Analyst

Gregor Horvat is based in Slovenia and has been in the Forex market since 2003. He has been working for Capital Forex Group and TheLFB.com.

He is the owner of www.ew-forecast.com, which prov...continued

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