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Euro Under Pressure; Now Back To 1.3000?

The Euro moved sharply lower in this week from 1.3380 area, and closed below previous 1.3250 swing.

And also because of the sharp bearish price action, we came out with an idea that a recovery from 1.3000, labeled as wave (c) of 2 is finished and that market will move even deeper in days ahead; ideally below 1.3000 within impulsive decline.

A rally back above 1.3380 will invalidate our wave count!

EUR USD Elliott Wave Analysis April 4 2012

Guest post by Gregor Horvat

Do you want more detailed Elliott Wave Analysis? Check the video below which includes also Gbp/usd, Usd/Chf and S&P500:

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!