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EUR/CAD leans lower – Elliott Wave Analysis


EURCAD keeps moving lower since Friday when we highlighted an important bearish pattern. Well, we were patiently waiting on that new low on the  intraday chart to confirm we are in impulsive decline which looks like an extended wave iii) headed to 14300 now on the  hourly chart . Interesting opportunities may then show up after wave four bounce.




E-mini S&P500 is turning nicely up now from 61.8-78.6% Fibonacci support levels where wave B) might have found a low. If that’s the case then stocks should stay bullish here for more gains up into wave D circled, towards the upper side of a triangle range, to 2160.

S&P500, 1H


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!