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EUR/USD is still in bounce mode; USD longs more likely

On EURUSD we are still observing a bullish pattern; with an expanded flat in wave B) that is now trading around an important level, at 1.0800. A bounce here should follow, and it could be in an impulsive manner in the next 24 trading hours. If not, then the count comes under question.

EURUSD 1h Elliott Wave Analysis

EURUSD Elliott Wave Analysis March 27 2015 technical chart forex

We are also looking at some candidates for USD Long trades, just in case that the USD uptrend is ready to resume. I guess we will have to wait for the answer until next week, but it’s good to be prepared. As such, my attention is still on USDJPY for longs next week if we get above the 120 resistance level. In that case I would be interested to buy a pullback

USDJPY 1h Elliott Wave Analysis

USDJPY Elliott Wave Analysis March 27 2015 technical chart forex

 

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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!