EUR/USD End of Year Elliott Wave Analysis

Hello traders!

Eur/Usd ride is like a roller coaster for the last few days if not weeks, ups and downs with 200 pips and more. From a technical Elliott Wave perspective that’s all normal if you consider a triangle formation. Triangles are structured by five legs, A-B-C-D and E, and as such, we anticipate even more sideway as we still need to see waves D and E before a triangle can be completely finished. Here is a basic triangle structure which occurs in wave four in an impulse or in wave B position of a zig-zag.

Guest post by Gregor Horvat

Be patient, we don’t want you to get caught in this range bound market, but we favor a bearish scenario as long as the Eur/Usd trades below important 1.3500 resistance region.

Happy Holidays!

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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!

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