Euro Under Pressure; Now Back To 1.3000?



The Euro moved sharply lower in this week from 1.3380 area, and closed below previous 1.3250 swing.

And also because of the sharp bearish price action, we came out with an idea that a recovery from 1.3000, labeled as wave (c) of 2 is finished and that market will move even deeper in days ahead; ideally below 1.3000 within impulsive decline.

A rally back above 1.3380 will invalidate our wave count!

EUR USD Elliott Wave Analysis April 4 2012

Guest post by Gregor Horvat

Do you want more detailed Elliott Wave Analysis? Check the video below which includes also Gbp/usd, Usd/Chf and S&P500:


About

Gregor Horvat is  based in Slovenia (Central Europe) and has been in Forex market since 2003. He is technical analyst and individual trader who also provide a lot of articles and trade plans based on the Fibonacci and Elliot Wave principle. He was working for Capital Forex Group and TheLFB.com. His feature articles have been published in: Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu. He mostly focuses on currencies, oil, gold, and the U.S. stock market. Gregor Horvat is also founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). EWP provides a method for identifying price points at which a market is most likely to turn. Knowing the probable swing and reversal points provides confirmation of where investors could enter and exit positions for the highest probability of success. Gregor Horvat Chief  Technical Strategist Website:  For more analysis visit our website and Try our services absolutely free for 7-days! http://www.ew-forecast.com/service//

4 Comments

  1. Mark says:

    Yeah yeah yeah…
    You have not published anything since the recovery from 1.30… I thought you would make an appearace now that everyones lost 400 pips after your last publication saying it would fall from 1.30 to 1.26…..

  2. Stan says:

    Please respond to Mark’s comment. Your reputation depends on it!

    Please, don’t. Ignore.

  3. Yohay says:

    I’ve referred the comment to the author of the article. Thanks!

  4. Grega says:

    Hi Mark! Its Grega here! Thank you for your comment.

    Yes, we said it we are looking for 1.2600, and we still expect this price to be achieved, because since one of ours past publications pair DID NOT move above 1.3485, which was highlighted in our past updates as well. Article:
    http://www.forexcrunch.com/euro-broke-through-january-support-line-trend-clearly-bearish-elliott-wave/

    If you are familiar with Elliott Wave theory then you know that wave two can retrace 100% of wave one but not more than that. We expected that wave 2 up, which unfolded in very complex and long corrective pattern. In slow contra-trend moves there is not much to say, that’s why we were quite during this period, which does not mean that our forecast has changed. In fact, we were just waiting for reversal, confirmation signs that occurred this past week and immediately shared it in our FREE publications, so that readers, and not only members were able to take advantage of it.

    But I can guarantee you that we were looking for that Euro price action already few weeks ago and also pointed out in one of our past video. Here is one on YouTube published on March 19th, talking about Euro:

    http://www.youtube.com/watch?v=lfQMebTOBFc&feature=youtu.be&t=4m52s

    Mark, I am sorry, and I take responsibility if we didn’t update you constantly! But please be aware that at the moment we do not have regular posts and updates on http://www.forexcrunch.com/.

    We just publish articles when we want and which we want. But if responses will be good and interests high, then who knows, maybe I and Yohay will come up with some new solution/idea in our cooperation.

    Cheers,
    Grega

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