For Traders

Analytical Reviews

Wave analysis

13.03.202011:42 Forex Analysis & Reviews: Elliott wave analysis of EUR/GBP for March 13, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Yesterday we showed the long-term count for EUR/GBP and today we will do a follow-up for the short-term count.

We where looking for EUR/GBP to peak near 0.8903 and we have seen a high of 0.8932. what we need now is a break below minor support at 0.8818 as the first good indication that wave B has peaked and wave C lower to 0.75 is developing. A break below support at 0.8741 will confirm the completion of wave B and the onset of wave C.

R3: 0.8932

R2: 0.8910

R1: 0.8890

Pivot: 0.8863

S1: 0.8837

S2: 0.8818

S3: 0.8741

Trading recommendation:

We sold EUR at 0.8900 and we have placed our stop at 0.8950

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.