Search ForexCrunch

Euro reached new highs in recent trade, reaching levels around 1.4250 Fibonacci resistance region where gains may slow down, since we are looking for a top of a fifth wave within an extended wave (iii).

We know that after every five waves correction follows, which in our case would be only a wave (iv) pull-back before uptrend resumes. Once wave (iv) “corrective personality” is recognized the Long trading opportunity will be on the table against the 1.4050 critical support region.

EUR USD Elliott Wave March 22

Guest post by Gregor Horvat

Yesterday we also recorded video for our subscribers, presented a possible big bullish picture for the Eur/Usd and Aud/usd. More in the video below!