Elliott Forecast - Elliott Wave View: EURGBP Rally Expected to Fail

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Elliott Forecast

Eric Morera

Elliott Wave View: EURGBP Rally Expected to Fail

Short Term Elliott Wave view of EURGBP suggests decline from 8.8.2024 high ended as wave (1) at 0.8219 as an impulse. Down from 8.8.2024 high, wave 1 ended at 0.8295 and rally in wave 2 ended at 0.844. Wave 3 lower ended at 0.826 and rally in wave 4 ended at 0.8375. Down from there, wave ((i)) of 5 ended at 0.8268 and wave ((ii)) of 5 ended at 0.8364. Wave ((iii)) of 5 lower ended at 0.8225 and wave ((iv)) of 5 ended at 0.8327. Final wave ((v)) of 5 ended at 0.8222. This completed wave (1) in higher degree.

Wave (2) corrective rally is in progress with internal subdivision as a zigzag Elliott Wave structure. Up from wave (1), wave A ended at 0.8313 and pullback in wave B ended at 0.8268. Wave C higher is in progress as an impulse structure. Up from wave B, wave ((i)) ended at 0.8314 and pullback in wave ((ii)) ended at 0.8272. Near term, as far as pivot at 0.8219 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside. Target higher for wave (2) is 100% – 161.8% Fibonacci extension of wave A. This area comes at 0.836 – 0.8419 where sellers can appear for 3 waves pullback at least.

EURGBP 60 Minutes Elliott Wave Chart
EURGBP Elliott Wave Chart
EURGBP Elliott Wave Video
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Source:-forecast.com/news/elliott-wave-view-eurgbp-rally-expected-fail/

27/12/2024 1 EN

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Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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Elliott Wave View: EURGBP Rally Expected to Fail

SoFi Technologies (SOFI) Should Pullback To Offer Next Buying Opportunity

SPX : Elliott Wave Forecasting the Future Path

Hello traders ! In this technical article, we’re going to take a quick look at the Elliott Wave charts of the SPX index, published in the members area of the website. As our members know, SPX remains overall bu

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