Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliott Wave Analysis by EWF
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Elliottwave-Forecast, post: 176783, member: 40858"] $EURGBP FX Pair Longer Term Cycles and Elliott Wave Firstly as seen on the monthly chart below there is data back to January 1975 in the pair. The EUR part being derived from the German Deutsche Mark up until the point EURUSD currency existed. Secondly as seen on the monthly chart below I will describe how I think the pair has risen thus far & what can be seen in the future. You can see the bounce from the February 1981 lows appears to be 3 swings to the November 1995 highs. There are usually a few counts that can be valid. This move appears to be a double three. I prefer to use momentum indicators to show when a cycle ends from any point in time. Whenever a proposed wave two, B, X or wave four of any degree has been taken by the momentum indicator it is likely it has ended that cycle whether it is up or down. The analysis continues below the monthly chart. [URL='https://elliottwave-forecast.com/wp-content/uploads/2020/02/eurgbp-m.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2020/02/eurgbp-m-1024x494.png[/IMG][/URL] From the November 1995 highs the pair declined hard enough to the May 2000 lows to suggest it was correcting the cycle from the February 1981 lows. The pair has not made another low since then. From the May 2000 lows it made another high in December 2008. From there it declined until July 2015 hard enough to suggest it was correcting the cycle up from the February 1981 low. That suggests the move from the February 1981 low to the December 2008 high was of three swings. The aforementioned December 2008 to July 2015 lows move appears to have been another typical three swings. The analysis and Elliott Wave part of this continues below the weekly chart. [URL='https://elliottwave-forecast.com/wp-content/uploads/2020/02/eurgbp-w.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2020/02/eurgbp-w-1024x496.png[/IMG][/URL] Thirdly and in conclusion. From the July 2015 lows it made a relatively clean five waves impulse higher to the August 2017 highs. The pullback from there thus far is in three waves however it has another high in August 2019. The momentum indicators suggest this pullback is correcting the cycle from the July 2015 lows as a flat before it turns back higher. This is a wave ((C)) which is an impulse. Unfortunately due to the nature of an impulse wave they can extend in any degree. This makes the area expected to reach difficult to forecast. As of right now I would assume it can reach the .7850-.7500 area before the pair turns back higher above the August 2017 highs firstly then later the December 2008 highs. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…