Elliott wave analysis blog - EUR GBP USD GOLD weekly

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I've started a blog where I post my Elliott wave analysis - everybody welcomed to see it at http://elliottwavecharts.blogspot.com

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GOLD Gold has finished (or is finishing ) it's wave "a". Correction wave "b" can extend to 895-877 price level. From that point uptrend will continue EUR made reversal and uptrend wave "a" is already finished. Correction can extend to 1.4525 but minimal target is 1.4620 Notice: Because of the strange wave length sizes there is small chance that downside trend can resume and my wave count is wrong now GBP Finally pair did reversal and now is forming wave "a" of the upside move. Next target is 2.0000 level

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EUR/USD

EUR is still forming correction that should reach at least 1.4730 target. After this correction uptrend will continue.

GOLD

Gold has passed minimum requirements for correction wave length and could start forming uptrend this week.

Notice: wave count on this chart could be different, but it does not change long term outlook

GBP/USD

The pair is finishing sharp correction and minimal requirements are already met and uptrend can resume any time.

First uptrend target is 2.0030 and next one could be 2.0270. Uptrend will be developing in form of zigzag

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EUR/USD Euro felt below 61% support line from the previous upside move. There are two possible scenarios: a) Euro will continue to fall to 1.4310 area, forming wave A of decline move. This will indicate serious problems for EUR in next 1-2 months. b) Euro will rebound and attack 1.5 level Best scenario is to sit and wait until situation will clear out GBP/USD Another two scenarios. Pound is going down in any of them: a) Current downtrend can extend to 1.8833 with current wave labeling. b) Alternative scenario will be 1.9190 price level GOLD Gold is either forming wave "c" that will beat 937 or start falling below 850

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Gold must be forming wave "C" that should reach 883 level as minimum or even lower. GBP/USD will jump into 1.9620 area and continue to decline. EUR/USD is topping below 1.47 level. Decline should follow afterwards to 1.44-41 level. You can subscribe to this analysis by RSS or by e-mail. It's free

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Situation is global for all 3 charts - correction phase started. Minimal targets are 30%. You can place ongoing sell orders after rallies that will not lead to new heights.

EUR/USD


GBP/USD


GOLD




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