Month: July 2016

EURUSD: A Sideways Triangle Edging Towards Conclusion

Ever since its long-term low at 1.0462, which was formed nearly a year and a half ago, the euro has been moving in a clearly converging range, despite the rising momentum on the weekly chart.

The daily chart has witnessed more lively action, at least in comparison to the weekly, but price is still all over the place and the market doesn’t seem to have a clear direction just yet.

This week we offer two daily counts, both of which expect this consolidation to be at an end. On one hand, the main count anticipates a couple more weeks before the triangle is fully complete, since its final wave is quite short in time in relation to its other waves.

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

GBPUSD: Upwards correction Vs. Downwards Movement

In the previous analysis, the main count expected upwards movement while the alternate count focused on the downwards probabilities for Cable.

Cable confirmed the alternate count and both targets were reached and exceeded.

This week`s main count expects Cable to continue downwards while the alternate count expects upwards corrective movement before resuming the downtrend.

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