Elliott Wave Forex - Technical
		Analysis for EUR/USD and GBP/USD

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GBPUSD – Cable`s Christmas Elliott Wave Analysis

December 22nd, 2014 · GBPUSD Weekly

Cable started the week by confirming the main count and first target was reached and exceeded before reversing directions and moving towards the upside to confirm the alternate count and target was exceeded by 2 pips. This is not a typical behavior for Cable and this is why we reviewed the recent subdivisions to present the counts that provide us with the “best fit”.

This week`s main count expects Cable to continue towards the downside in an impulsive manner while the alternate count expects Cable to reverse directions and move towards the upside within wave (2) black.

As always we will wait for either count`s confirmation point to be reached to determine the highly probable count.

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GBPUSD 19th December, 2014

December 21st, 2014 · GBPUSD

Both counts expected Cable to unfold towards the downside and that is what we saw on Friday`s session and the recent downwards movement was more inline with the alternate count`s targets.

We are updating both counts according to the latest price action as both counts are starting to diverge at this stage with the main count expecting an impulsive decline, while the alternate count expects an upwards impulse.

As always we will wait for either count`s confirmation point to be met to determine the highly probable count.

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EURUSD 19th December, 2014

December 21st, 2014 · EURUSD

Again the euro continued further toward the downside, making a new low that is completely unsupported by momentum. Our view is largely still the same.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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GBPUSD 18th December, 2014

December 18th, 2014 · GBPUSD

Cable unfolded towards the upside and confirmation points are yet to be met.

We are updating both counts according to the latest price action. The main count expects a downwards impulsive movement, while the alternate count expects a small downwards corrective movement before reversing directions sharply towards the upside.

As always we will wait for either count`s confirmation point to be met to determine the highly probable count.

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EURUSD 18th December, 2014

December 18th, 2014 · EURUSD

The euro continued further toward the downside, although it’s still away from the most recent significant low.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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GBPUSD 17th December, 2014

December 18th, 2014 · GBPUSD

On Wednesday`s session Cable failed to reach the main count`s confirmation point and unfolded towards the downside invalidating the main count.

We are modifying the subdivisions within wave 4 blue of minor degree and as well adding an alternate count which expects that wave (2) black is unfolding as a flat correction.

As always we will wait for either count`s confirmation point to be met to determine the highly probable count.

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EURUSD 17th December, 2014

December 17th, 2014 · EURUSD

The euro had an active and volatile day, as price moved toward the downside according to our alternate count, reached the first target at 1.2447, and exceeded our second target at 1.2370 by 49 pips.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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EURUSD 16th December, 2014

December 17th, 2014 · EURUSD

The euro has been moving in increasingly more complex patterns, invalidating our main count in the process, and leading us to conclude that price is still trapped within a sideways corrective pattern.

There are too many possibilities at this point, and we need to wait for price to paint a clearer picture, and so today we’re going to discuss a few of these possible scenarios.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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GBPUSD 16th December, 2014

December 17th, 2014 · GBPUSD

As expected under the alternate count, Cable unfolded towards the upside and first target is yet to be reached.

We are updating the main count according to the latest price action and as always we should wait for confirmation point to be reached to gain further confidence in the main count.

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GBPUSD 15th December, 2014

December 16th, 2014 · GBPUSD

As expected Cable unfolded towards the downside, first target was reached and Cable fell short -so far- of the second target by 24 pips.

We are updating the main count according to the latest price action and as well modifying the subdivisions within wave (2) black. We are adding short term confirmation and targets for both main and alternate counts.

As always we will wait for either count`s confirmation point to be reached to determine the highly probable count.

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