EURUSD and GBPUSD Update - Elliott wave Analysis

While stocks turned down there was some support on EURUSD which actually turned up in five waves from 1.1427, so I see pair pair establishing a new base which means more upside can be coming after a pullback. There is a chance that pair will resume trend to 1.1650 area while is trading above Oct 09 low.

EURUSD, 1h

EURUSD

GBPUSD is also in uptrend and may see more upside after a-b-c set-back in wave four. Support for this one is at 1.3160.

GBPUSD, 1h

GBPUSD

 


 


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