Elliott Wave Analysis: EURGBP Looking Down and Oil Up
|Good day traders ! Today's focus is EURGBP and Crude oil.
On the bearish side of euro the most interesting pair can be EURGBP which is trading nicely lower this month. As such, traders may keep a close eye on corrective pullbacks in three legs before downtrend may resume. We are tracking a fourth wave right now which may rise even to 0.8930/0.8980 zone from where a new drop lower may show up, ideally later this week.
EURGBP, 1H
Crude oil is very interesting, now looking bullish again after recent spike down to 49.60 where energy might have completed a three wave drop within wave four pullback. We think that sooner or later price will break to a new high and extend up to 51.50, maybe even 52.00 by the end of the week.
Crude oil, 1H
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
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