Elliott Wave Analysis 09/12/2016

The EUR/USD is now in a down trend, having finished a Primary wave B. The pair broke to the down side of a 2 year triangle on the news of Donald Trump’s surprise win of the U.S. presidential election. It is now starting a Primary C wave, which should eventually move the euro below parity with the dollar.


The GBP/USD is currently in a corrective wave (4) of a 5 wave pattern, which may see sterling recover against the dollar to around 1.2800-1.3480 from a low of 1.1949. The pair should then reverse and break the 1.1949 low as it forms wave (5).



Risk Warning: Transactions in Contracts for Difference and Foreign Currency are leveraged products that can result in losses that exceed your initial deposit. These products may not be suitable for everyone. Please seek advice if you do not fully understand the risks.

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