EURUSD & GBPUSD Fall From The Resistance – Elliott Wave Analysis


We have seen some interesting USD buying yesterday across the board which could lead to even stronger dollar in days to come. On EURUSD we are looking at nice decline that can be wave (iii) down from 1.1080 so current leg can extend to 1.0850 in sessions ahead. If price will stay bearish today and tomorrow, remain beneath 1.1080 then we will likely see EURUSD going back to 1.0600 next week.
EURUSD 1h Elliott Wave Analysis

eurusd july 30 2015 intraday

Cable can also be very interesting soon for some dollar strength after recent spike and turn down from 1.5690. Ideally market completed wave C) in that area so new impulse get be headed to 1.5466 area. If we will be able to count five waves down, then our attention will be on a pullback (blue wave two) for shorts.
GBPUSD 1h Elliott Wave Analysis 

gbpusd july 30 2015 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 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.