Morning Guys! Stocks and commodities are trading higher across the board after the Federal Reserve said it will spend $600 billion in a new bond-buying program to support the economy. So it’s not a surprise that US dollar is showing a very weak picture against the other major currencies, especially against the Euro which is the strongest currency in this first part of the European session, probably because of speculation that the European central Bank will keep withdrawing its stimulus measures. Guest post by Gregor Horvat From a technical point of view, it was not easy to recognize the right direction yesterday at 13:15 EDT when the FOMC kept its benchmark interest rate target for overnight interbank loans at zero to 0.25 percent. On the 1h Eur/Usd line chart, which is much clearer to read, is showing a clear direction of a powerful bullish trend as expected (click here for our past video from Tuesday)that reached 1.4250 region this morning. However, trend is unfinished since we need five waves up from a fourth wave triangle low, within a red wave 5), before we may look for any reversal, as Elliott Wave Theory suggests. Trend is our friend they say! Bullish bias as long as the market trades above 1.4100 and 1.4060. Eur/Usd 1h (line) chart: Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. 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! View All Post By Gregor Horvat Opinions share Read Next 3 Tips For Controlling Your Emotions Yohay Elam 12 years Morning Guys! Stocks and commodities are trading higher across the board after the Federal Reserve said it will spend $600 billion in a new bond-buying program to support the economy. So it's not a surprise that US dollar is showing a very weak picture against the other major currencies, especially against the Euro which is the strongest currency in this first part of the European session, probably because of speculation that the European central Bank will keep withdrawing its stimulus measures. Guest post by Gregor Horvat From a technical point of view, it was not easy to recognize the right… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
