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EURUSD reversed slightly higher yesterday from 1.2840 support but not for long as the  recovery found resistance very soon, so it was probably just a fourth wave within larger wave 3 down.

As such, our bias remains unchanged: we are looking for weaker EURUSD, towards 1.2800 as the next projected target where we could see a temporary low and a wave 4 pull-back.

The short-term critical level is at 1.2935 as wave four must not trade into a territory of a wave one.

EUR to USD Elliott Wava Analysis May 17 2013 for technical trading forex