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

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GBPUSD 27th January, 2015

January 27th, 2015 · GBPUSD

Cable unfolded as expected and target was reached to the pip before reversing directions and moving towards the downside. The downwards movement was corrective, soon after, Cable continued moving towards the upside reaching and exceeding the first daily target.

The only change I am applying to the main count today is moving the subdivisions within wave (c) green one degree up. Today`s main count expects further upwards movement to complete a five wave structure. The alternate count expects the upwards correction is complete and a short term high is in place.

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 27th January, 2015

January 27th, 2015 · EURUSD

Yesterday we expected to see some downward movement, which was not what happened. Price rallied for 200 pips, but this rally is only in 3 waves, making the overall pattern quite unclear at this point, which means that our counts for today are tentative and pending further price clarification.

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 26th January, 2015

January 27th, 2015 · GBPUSD, GBPUSD-FREE

Cable unfolded as expected and first target was reached and exceeded. Today`s main count expects the second target to be reached since the 5 waves structure is incomplete.

On the other hand the alternate count expects that minute wave v pink is unfolding as an ending diagonal and that it has more to offer drifting towards the downside.

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 26th January, 2015

January 26th, 2015 · EURUSD

Yesterday we mentioned some of the mounting signs that an upward reversal is probably close at hand, and a few hours later price had its largest one-day upward movement in many weeks. We expected that we would first see another downward leg, which was what happened, although it came quite short of our expected target.

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 23rd January, 2015

January 25th, 2015 · GBPUSD

Cable unfolded as expected under the alternate count and target was reached and exceeded by 7 pips before reversing directions.

Today`s main count expects Cable to move towards the upside in an impulsive manner, while the alternate count expects downwards movements to resume.

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 23rd January, 2015

January 25th, 2015 · EURUSD

The euro moved another 240 pips toward the downside, a possibility which was accounted for (and exceeded) under the alternately count. But as price keeps making new and significant lows, the momentum signature still paints an extremely oversold picture, and the wave pattern warns of an impending reversal.

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 22nd January, 2015

January 23rd, 2015 · GBPUSD

Cable unfolded as expected and target was reached and exceeded. Today`s main count suggests that a major low is in place.

Calling a major low when that low is only 10 pips away is way too risky for my taste. However, the subdivisions fits nicely and MACD agrees with the main count. Candlesticks patterns on the other hand does not agree with the main count since Today`s session ended with a long bearish bar. This is why we are adding an alternate count which expects Cable to continue unfolding towards the downside.

As always we will wait for either count`s confirmation point to be met to determine the highly probable count. We will be able to provide short term confirmation points for the main count once the structure we are following starts to subdivide towards the upside.

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EURUSD 22nd January, 2015

January 23rd, 2015 · EURUSD

The euro moved toward strongly toward the downside, a possibility which was accounted for – but dramatically exceeded – under the alternately daily count. Price dropped over 350 pips in several hours, constituting the largest 1-day movement for the pair in several years.

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 21st January, 2015

January 21st, 2015 · GBPUSD

Cable started the day by moving towards the upside before reversing directions towards the downside and ending the day almost where it started. Such behavior resulted in a Doji candlestick formation and that suggests indecision between bulls and bears.

We are updating both main and alternate counts according to the latest price action and as always we will wait for either count`s confirmation point to be reached to determine the highly probable count.

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EURUSD 21st January, 2015

January 21st, 2015 · EURUSD

The euro moved toward the upside as expected, and it met our confirmation point on high volatility. While this does support our main count, we would still like to see a confirmation in price action and wave patterns, which so far is still unclear

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

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