Home EUR/USD: Break of 1.2800 Puts 1.2500 In Play – Elliott
Opinions

EUR/USD: Break of 1.2800 Puts 1.2500 In Play – Elliott

EUR/USD made three legs up from the 1.2750 low to 1.3420 which we believe was a corrective, contra-trend price action within a larger downtrend.

We are talking about blue wave (2) which is showing signs of completion around the 1.3420 level after a sharp decline in the last three weeks with an impulsive personality.

Notice that the pair is now already testing an important trend-line from the October 2012 swing lows. A break here is expected – something which may cause a significant decline in the second part of this year.

EUR USD Elliott Wave Analysis July 9 2013 for technical trading of foreign exchange

EURUSD VIDEO ARCHIVE June 24 2013:

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!