Elliottwave Forecast Blog | Elliott Wave Analysis: More Downside Expected in EURGBP | Talkmarkets
ElliotWave Forecast
Contributor's Links: Elliottwave Forecast

At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, ... more

Elliott Wave Analysis: More Downside Expected in EURGBP

Date: Wednesday, February 13, 2019 3:11 PM EDT

Hello fellow traders. I want to share with you some Elliott Wave charts of EURGBP which we presented to our members at Elliott Wave Forecast. You see the 4-hour updated chart presented to our clients on the 01/26/19 below

EURGBP unfolded as an Elliott Wave Zig-Zag structure from 01/02/19 peak. Decline from there ended black wave ((a)) at 0.88768 and wave ((b)) bounce ended at 0.89840. Black wave ((c)) of red wave W should end soon as it has reached our blue box area. This area comes at 0.87477-0.86019, which is 100% -  161.8% Fibonacci extension from black ((a))-((b)). Pair should rally in the sequences of 3-7 or 11 swings to correct the cycle from 01/02/19 peak.

EURGBP 01.26.2019 4 Hour Chart Elliott Wave Analysis

EURGBP

 

In the Elliott Wave chart update below, you can see that black wave ((c)) of red wave W ended at around 0.86153 low. Above from there, it started the expected bounce in red wave X. Due to the right side tag against 0.91161 peak and the bearish sequence tag, we advised members that selling EURGBP in the sequences of 3-7 or 11 swings will be the idea to go.  Please keep in mind that the 4-hour charts which I presented can have changed already.  The purpose of this blog is just to illustrate how accurate our blue boxes are. Our members can use the blue box and right side stamp and buy/sell correction in 3-7 or 11 swings.

 

EURGBP 02.06.2019 4 Hour Chart Elliott Wave Analysis

EURGBP

 

I hope you like this blog and I wish you all the best.

Disclaimer: This and other personal blog posts are not reviewed, monitored or endorsed by TalkMarkets. The content is solely the view of the author and TalkMarkets is not responsible for the content of this post in any way. Our curated content which is handpicked by our editorial team may be viewed here.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.