EUR/USD Elliott Wave – Is a Reversal Coming?

3

Euro has been trading significantly higher for the past two weeks from 1.2870 region, but the price action personality suggests that this is only a temporary recovery. Our bias for this pair is short as long as the market trades below 1.4280 high from October 2010.

Guest post by Gregor Horvat

In our next video, based on Elliott wave theory you will find out why we believe that at least “temporary highs” are near, and that US dollar will likely reverse some of the losses we have seen over the past few days. We will take a detailed look of the recent upward structure on the 4h and 1h charts.

If you need more Elliott Wave forecast, especially on the intra-day basis, please visit our website and check Video Tour of Our Products here.

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!

3 Comments

  1. Henry Daniels on

    This is exactly what I have in mind right now, But I just love to see this pair to going deeper and see a retracement first before going ride the third wave.

  2. Pingback: EUR/USD Outlook – Jan. 31 – Feb 4 | Forex Crunch