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

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GBPUSD 5th March, 2015

March 6th, 2015 · GBPUSD

Cable unfolded as expected and first target was reached to the pip. We are updating both counts according to the latest price action.

Subdivisions within wave B blue seem structurally mature, therefore we have two counts. Today`s main count expects that wave B blue has more to offer towards the downside. While the alternate count explores the possibility that wave B blue is complete and that wave C blue has started unfolding towards the upside.

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 5th March, 2015

March 5th, 2015 · EURUSD

Yesterday we expected to see some upwards action, which was not what happened, as price slightly declined to a new low. Nonetheless, our counts remain pretty much intact and pretty much 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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EURUSD 4th March, 2015

March 5th, 2015 · EURUSD

Yesterday the continued moving toward the downside for about 160 pips. This movement invalidates our main count and presents a different scenario where the downtrend is either at an end or forming its last phase.

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 4th March, 2015

March 5th, 2015 · GBPUSD

Cable started the day by confirming the alternate count and the max target was reached. Soon after, Cable continued moving in an impulsive manner towards the downside proving that wave b pink was shallower than expected and that wave c pink has started.

Today`s main count expects that wave c pink is quite mature and nearing an end as we can see a clear five wave structure within it.

On the other hand, the alternate count explores the possibility of a completed minor wave B blue and that minor wave C blue is at its early stages.

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GBPUSD 3rd March, 2015

March 4th, 2015 · GBPUSD-FREE

Cable continued trading in an even tighter range. I have to admit -as an analyst and trader-, that the tighter price action become, the more anxious I am to enter the market and trade. Typical trader behavior if I am to say.

So instead, I decided to go all the way to the tick chart and provide a detailed analysis of the recent downwards movement. To be able to present all the wave labeling I came up with, I will be presenting a 30 minutes chart at the end of today`s analysis.

Today`s main count expects Cable to reverse directions and move towards the upside with a very narrow lee way space. The alternate count on the other hand expects that trend is a downtrend and that upwards movements should prove corrective.

At this stage, both counts have almost equal probabilities and we will let price action decide for us which count is the highly probable count as we wait for either count`s confirmation point to be reached.

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EURUSD 3rd March, 2015

March 3rd, 2015 · EURUSD

Yesterday we mentioned the possibility that price was still undergoing a flat correction, which indeed turned out to be the case, as the euro made a slight new low of what seems like a textbook expanded flat.

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 2nd March, 2015

March 3rd, 2015 · GBPUSD

On Monday`s session, Cable continued unfolding towards the downside. We expect Cable`s slow behavior to change soon.

Both count`s have almost equal probabilities and as always we will wait for either count`s confirmation point to be reached to determine the highly probable count.

The main count expects Cable to reverse directions and move towards the upside since the main count expects the completion of a very deep retracement.

On the other hand, the alternate count expects Cable to continue moving towards the downside in an impulsive manner please view the charts below for more in depth review of today`s price action and what to expect for Tuesday`s session.

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EURUSD 2nd March, 2015

March 2nd, 2015 · EURUSD

As expected the euro moved slightly toward the upside, came within 17 pips of our first target, then retraced most of its small rally. This raises the probability of our count, and we now wait for its completion.

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 27th February, 2015

March 2nd, 2015 · GBPUSD

On Friday`s session, Cable unfolded in a tight range leaving both counts valid as Cable is yet to reach either count`s invalidation point to confirm the other count.

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 27th February, 2015

March 1st, 2015 · EURUSD

The euro made a slight 10-pip low. Beyond that, there was really no meaningful action in the market last Friday.

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

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