Euro Looks For Reversal – Elliott Wave Video Analysis

0
136
EURUSD Elliott Wave Analysis 10213
EURUSD Elliott Wave Analysis 10213

We expect lower levels on EURUSD in the near term after it found resistance at the end of the last week at 1.3645 from where when pair declined for almost 100 pips. A reversal in price should not be a surprise because of a five wave rally from 1.3105 swing low, so correction has obviously been expected. Corrections are three wave pattern that usually retraces back to the wave four termination point. In our case that comes in around 1.3475 so pair is expected to fall further in this week, down into wave (c) from current wave (b) position.

If you want more detailed analysis then please make sure to check our video below in which we also covered USD index, S&P500 and GOLD.

 

Written by www.ew-forecast.com

Try EW-Forecast.com’s Services Free For 7 Days >>> Here

 

SHARE
Previous articlePound Bounces on Housing Prices
Next articleWhile Japanese Stocks Gain, Other Stocks in Asia Fall
Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.