GOLD Seems Sideways, EURUSD Moves Down Elliott Wave Analysis


Gold is sideways, probably forming a triangle but because of five waves up to 1107 last week we see triangle placed in wave b, so we would not be surprises to see rally to 1110 maybe even 1120 later this week but 1179 must hold then.
GOLD 1h Elliott Wave Analysis
EURUSD might have already completed a flat last week near 1.1114 so new bearish leg can be underway back to the lows from July 20. However, we need to see a decisive break beneath the channel support line to confirm stronger bears. At the moment, we see price still in wave 2 that can reach 1.1000-1.1030 area before turning down.
EURUSD 1h Elliott Wave Analysis


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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.