GOLD & EURUSD – Post FOMC Elliott Wave Analysis


The USD is trading lower as investors sold currency on speculation that FED may not hike rates in September. We think that all will depend on NFP data released at the start of next month. Technically speaking we still see the USD in interesting bullish pattern across the board.

On EURUSD we see a nice rally, but it can be wave B) recovery so weakness can follow soon. Ideally we will see lower prices into wave D) towards our 61.8% Fibonacci retracement level.
EURUSD 1h Elliott Wave Analysis

eurusd aug 20 2015 1h


Gold is trading sharply higher, about we warned you yesterday ahead of the FOMC minutes because of three legs down to 1109 that we see it as completed wave four. If that was correct, then price is now in wave five which should make another high before we may look for a bearish turn. Ideally price will rise to 1145.
GOLD 1h Elliott Wave Analysis

gold aug 20 2015 1h

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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 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.
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