Home EUR/USD Could Reach 1.2750 – Elliott Wave Analysis

EUR/USD Could Reach 1.2750 – Elliott Wave Analysis

EURUSD made three legs up from the 1.2750 low to 1.3420 which we believe represents a corrective, contra-trend price action within a larger downtrend.

We are talking about a blue wave (2) which is   showing signs of completion around 1.3420 level after sharp decline in the last two weeks which is an impulsive move. As such, we expect further weakness in coming days and weeks, ideally back to April low as a first projectied target zone on the way down.

EUR USD Elliott Wave Analysis July 2013 technical trading for forex traders

Traders, please check our next video on EURUSD and why we think that pair may fall much lower in the next few days and even weeks.

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!