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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.

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