EURUSD Is Heading Towards New Low


EURUSD remains bearish even during Draghi speech, so for now, it seems that we may see further weakness from current levels. TDraghi said that borrowing conditions have improved, so it means that QE is working which is bearish for EUR and bullish for DAX. Technically, we expect more weakness on EURUSD as rally from 1.0520 was made in clearly three waves, so new lows should follow sometime this week.
EURUSD 1h Elliott Wave Analysis


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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 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.