The Elliott Wave Approach to one of the toughest markets
Another interesting point worth mentioning is that recovery on cable since 2016 has stopped at the 1.3500 region which was a swing low back from 2008 as well as trendline resistance connected down from the 1.7190 high. As long this region holds I believe that the pair remains in a downtrend.
This article was written by one or more of the following contributors: Blake Morrow, Nicola Duke, Grega Horvat, Steve Voulgaridis and Stelios Kontogoulas. They are all analysts at ForexAnalytix which provides macro & technical analysis for various financial instruments. Forex Analytix primary goal is to educate traders of all experience levels and to provide a wide range of tools which can help with their trading decisions.