Eur/usd fell to even lower levels in recent trade after earlier reversal from 1.4550 during Asian hours, when stocks were mixed with Japanese Nikkei up 0.4%, Australian ASX 0.2% while Hang Seng Index, South Korean Kospi Index and Chinese Shangai Composite Index lost some of thier value.
German DAX traded negative at the European open and sent the Eur/Usd to 1.4442 support. In the next video Gregor Horvat explains why Eur/Usd will reach even lower levels in days ahead, while pair trades below 1.47 resistance level.
Guest post by Gregor Horvat
He will point out some powerful guidelines from an Elliott Wave perspective and reasons why Eur/Usd has formed a temporary top. You may notice five wave move down from 1.47 right? But corrections are never just in five, so either is a reversal from 1.47 corrective, or start of a new impulsive sell-off, downtrend should continue!
In fact, it seems that Eur/Usd has finally caught up a sell-off on stocks seen recently! Will Usd try to react as safe-haven”¦finally?