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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • Elliott Wave Forecast For GBP/USD: Completed Zig-Zag Is Pointing Lower 0 comments
    Aug 2, 2013 4:21 AM

    GBP/USD made three legs up from 1.4810, called a zig-zag that found resistance just slightly above 61.8% retracement area as noted in our past updates. Notice that market reversed impulsively down from 1.5430 which means that rally is complete and that bears are now stronger, so expect even lower levels in days ahead, especially after minor three wave bounce. We will look down as long as 1.5430 is in place.

    If you are interested in our analysis then you can try us absolutely FREE FOR 7 DAYS!

    Visit http://www.ew-forecast.com/service/ for more details.

    (click to enlarge)

    Zig-zag

    A zig-zag is a 3-wave structure labeled A-B-C, generally moving counter to the larger trend. It is one of the most common corrective Elliott patterns.

    If you are interested in our analysis then you can try us absolutely FREE FOR 7 DAYS!

    Visit http://www.ew-forecast.com/service/ for more details.

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