Home EURUSD Bulls Could Stop At 1.1400 – Elliott Wave Video

EURUSD Bulls Could Stop At 1.1400 – Elliott Wave Video

EURUSD has turned lower at the end of last week, from our Fibonacci resistance levels placed near 1.1400. We have seen a nice sell-off in the last two trading days so we assume that wave 5) is complete, but for the final confirmation we need a break of 1.1060 support, when the market will open the door for much lower levels, ideally into an impulsive sell-off. Keep in mind that with five waves up from 1.0523 pair might have accomplished a big flat correction in wave IV, on daily chart.

For a full update make sure to check out video analysis below.

8037eurusd_may_11_2015_4h Elliott Wave Analysis EURUSD technical chart

Live Chart of EUR/USD:

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.