EUR/USD At Strong Resistance – Bearish Reversal In View

1

The euro reached new highs in recent sessions, after another Sunday gap. Prices extended above 1.2700 region where the market will be looking for a top.

Based on the structure of a recovery from 1.2290 we are still very confident that this is a contra-trend movement and that sooner or later prices will sell-off.

EUR USD Elliott Wave Analysis June 18 2012

Guest post by Gregor Horvat

Ideally, market will reverse lower with minor impulse, through corrective channel line that will be trigger for weakness back to levels from June 1st.

Take advantage of a Special Offer and Get 2 Months for Price of 1

Update: Final results of Greek elections – Pro bailout camp wins. Read the results, coalition prospects, analysis, and market reaction (which was short lived).

Get the 5 most predictable currency pairs

About Author

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!

1 Comment

  1. Pingback: EUR/USD At Strong Resistance – Bearish Reversal … – Forex Crunch | I F O R E X X I . C O M