EUR/GBP: Elliottwave Structure is calling for another low

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 17, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term reading of the Elliott Wave cycle suggests decline to 0.705 ended wave (W) and bounce to 0.7197 ended wave (X). From this level, pair has resumed the decline lower in a double three structure where wave W ended at 0.7038, wave X ended at 0.711, and wave Y is in progress. Internal of wave Y is unfolding as a double three structure where wave ((w)) is expected to complete at 0.698 – 0.7012. Once wave ((w)) is complete, the pair should bounce in wave ((x)) before turning lower again.

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