Home EURUSD Can Decline Towards 1.1050 – Elliott Wave Analysis
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EURUSD Can Decline Towards 1.1050 – Elliott Wave Analysis

The EUR is falling while the USD is trading higher after the recent turn down on gold and bullish swings on stocks. We expect more downside on EURUSD this week as we see more gains coming on the DAX which is also supportive for bunds.

Notice that the German bund market is showing a nice bullish pattern after five waves up followed a recent three wave decline into the 50-61.8% retracement area from where we expect a bounce in an impulsive fashion, ideally back to 152.50 and even higher. This would likely mean more weakness for EURUSD based on latest correlations.

Elliott Wave Analysis – BUNDS 1h

Bunds Elliott Wave Analysis June 23 2015 technical outlook for currency trading

On EURUSD we can see a nice turn down in the last 24 hours with the current price trading near the wave B termination point where a breakdown will confirm a weak EUR and possibly open the door for a wave D) decline towards 1.1050.

Elliott Wave Analysis – EURUSD 1h

EURUSD June 23 2015 technical Elliott Wave Analysis forex outlook

In our latest podcast we digest the dollar dove dive, update on Greece and preview next week’s events.

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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!