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EUR/USD And GBP/USD Weak

Published 01/25/2022, 06:28 AM
Updated 07/09/2023, 06:31 AM

The escalation of US-Russian tensions over Ukraine and hawkish Feds policy worries investors who are moving into cash.

A sharp sell-off on the stock market may stabilize, but technically weakness appears incomplete. If risk-off will resume, then be aware of more JPYand USD strength.

EUR/USD is trading south with nice five waves down to 1.1300, so more weakness will be expected after a three-wave structure. We are talking about a-b-c that can stop at 1.1360/70 resistance.EUR/USD Elliott Wave analysis.

GBP/USD is coming down into the third leg of a retracement, which can be wave C, but even this one must be made by five sub-waves.

Be aware of a retest of the lows while the market is below 1.3544.

GBP/USD technical analysis.

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