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EUR/USD and AUD/USD: Bears Possible; Wait On a Confirming

Eur/Usd trades higher today, driving other majors up against the US dollar as well, on talks that new Greek aid package amounting to E150bln could be agreed.

As such, the same reaction is shown on S&P futures, which are rallying sharply higher ahead of the US session, but still within a third leg from its lows. For any bearish interpretations, 1280resistance must hold! If not, then this pull-back higher on majors will not complete so soon.

Well, traders need to focus on market direction, and pay attention to price which is always the most important and the best indicator out there!

In the video below , Gregor Horvat will discuss about the current price action on Eur/Usd and Aud/Usd, and will point out “what is needed for bearish price action to continue”.

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Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!