EURUSD is moving higher since the start of December 2015, reaching 1.1500 area where the upside can be limited as recovery from 1.0518 is in seven legs. That’s a structure of a corrective price action, so ideally it represents wave C-circled as part of a big triangle in black wave IV. Notice that for now the price is still on the rise but it may turn down from 78.6% Fibonacci resistance level, so maybe wave D will finally show up in May. EURUSD, Daily On the lower time frame, EURUSD moved sharply to the upside at the end of last week, back above 1.1464 so the bullish swings are still here, but because of the overlapping price action since the start of March, we still see recovery as a complex correction. We are looking at a double zigzag up from 1.0818 shown on the 4h chart, that represents part of a big blue wave C-circled as the third leg within an ongoing triangle on a daily chart. Based on the price and time, we suspect that EURUSD can show evidence of a turning point in the start of May. EURUSD, 4H 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 Daily LookEUR/USD Daily share Read Next EUR/USD moves higher ahead of first NFP hint Yohay Elam 6 years EURUSD is moving higher since the start of December 2015, reaching 1.1500 area where the upside can be limited as recovery from 1.0518 is in seven legs. That's a structure of a corrective price action, so ideally it represents wave C-circled as part of a big triangle in black wave IV. Notice that for now the price is still on the rise but it may turn down from 78.6% Fibonacci resistance level, so maybe wave D will finally show up in May. EURUSD, Daily On the lower time frame, EURUSD moved sharply to the upside at the end of last… 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.
