The USD finished the week in a strong manner on Friday after a very good NFP report. We have seen a new leg down on EURUSD and other pairs as well. GBPUSD also finally broke to the downside. However, the question is how much room is there left within USD strength? Keep in mind that we are tracking big fifth waves across the board, so sooner or later these trends could change. It will be interesting to see what happens when the USD index will get above those 2009 highs. However, for now we need to focus on short-term swings. On EURUSD we see five waves down on the 15min chart so support could be near, but for now, the pair is still not bottoming. However 1.2200 definitely could be support for a next bounce in price, even if this is just corrective. EURUSD 15min Elliott Wave Analysis GBPUSD is also in an impulsive downtrend, with room for more declines in the short-term as wave 5 is still not in five subwave, so current the intraday leg to 1.5580 could be fourth wave, as part of a downtrend. GBPUSD 1h Elliott Wave Analysis 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! View All Post By Gregor Horvat Forex News Today: Daily Trading News share Read Next Global Growth Divergence Dominates Sentiment Scott Smith 8 years The USD finished the week in a strong manner on Friday after a very good NFP report. We have seen a new leg down on EURUSD and other pairs as well. GBPUSD also finally broke to the downside. However, the question is how much room is there left within USD strength? Keep in mind that we are tracking big fifth waves across the board, so sooner or later these trends could change. It will be interesting to see what happens when the USD index will get above those 2009 highs. However, for now we need to focus on short-term swings.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
