Elliott Wave Analysis: EURUSD and GBPUSD Intraday 5/19/2014

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eurusd elliott wave intraday

EURUSD 1h Elliott Wave Analysis

EURUSD is not holding correlation with the stock market at the moment. I am looking at rally from 1.3646 that will probably extend to a new swing high in this week for a wave c) up, close to 1.3770.

GBPUSD is also reversing from the lows after completed five waves of decline. A first leg from 1.6730 is in minor five waves, so structure belongs to a bigger recovery. We expect a zigzag retracement to 1.6850-1.6900 before downtrend resumes.
GBPUSD 1h Elliott Wave Analysis

gbpusd elliott wave intraday

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.