Elliott wave analysis
Elliott Wave analysis what is it? Upcoming Events Economic Event. These waves not only impact the financial markets, but can be applied to social elements like Music, Art, Movies and more.
How to Win in Forex with Elliott Waves
The pattern looks rather clear on the daily chart, but the noise on the hourly chart is so excessive that two counts are necessary. As expected the euro moved toward the downside, passed the confirmation point, and is now well on its way toward our targets. Cable remains locked close to its lows and no evidence yet to support the idea that the downtrend has resumed.
We want to see an impulsive decline below the most recent swing lows to gain confidence in the main hourly count. As expected the euro moved toward the downside, reached both targets, and exceeded the second target by 7 pips. This part of the decline is now complete, but the decline as a whole looks like it needs one more dip lower.
We continue to look for signs to support the idea that the downtrend has resumed. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Take a free trading course with IG Academy. Our interactive online courses help you develop the skills of trading from the ground up. Develop your trading knowledge with our expert-led webinars and in-person seminars on a huge range of topics. A demo account is intended to familiarize you with the tools and features of our trading platforms and to facilitate the testing of trading strategies in a risk-free environment.
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