EURUSD Could Fall Much Lower In 2013 (Elliott Wave

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The sharp and extended fall through the 2012 support line with a monthly price close beneath it suggests that EUR/USD will extend much deeper in 2013

.EUR USD Elliott Wave Analysis March 25 2013

In fact, on the line chart we can see that the decline is very clean and directional. The move can be counted impulsively, which is bearish sign for the pair, but we expect a three wave bounce back to 1.3150 -1.3250 in the next few days, before the downtrend extends.

The reason for a possible top in place on EURUSD is also German Bund market.  For a more detailed Elliott wave video analysis on this, please check the video below.

VIDEO EURUSD vs. German Bund:

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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!

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