Elliott Waves Show Euro Recovery Out Of A Wedge

Gregor Horvat Wavetraders

EURUSD is in a recovery mode, now above the upper EW ending diagonal line, which can be first evidence that the trend is temporarily turning from bearish to bullish. We labelled a possibly of acompleted higher degree impulse as wave A at the low, so current turn up can be leading diagonal; start of a higher degree wave B. that can take us even back to 1.12 or 1.130 level. However, before I may look for some long idea on that one I preffer to wait on a retracement in three legs back to 1.1 zone.

Trade well,

Grega

If you like what we do, then you can subscribe to our webpage at EW-Forecast. Also we have a special TRIAL offer for Crypto services and for FX services.

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.