The US dollar was sold-off across the board on Friday, as metals found support. However, despite some weakness on the USD Index, we still see USD pairs as only trading in a corrective phase. On EURUSD there is a three wave recovery from 1.2355, so a leg from 1.2396 can be wave (c) as part of a wave 4. Notice that the price is already trying to turn down from the resistance line, so ideally we will see more weakness in the sessions ahead. I would personally like to see EURUSD back beneath 1.2470 for a possible short opportunity. EURUSD 1h Elliott Wave Analysis NZD was one of the strongest currencies last week; it recovered with five waves against the USD, but we know that after every five waves a correction follows, so we may see some moves in the dollar’s favor at the start of the week. Ideally the pair will make a three wave retracement back to 0.7820 support. NZDUSD 4h Elliott Wave Analysis 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 Forex News Today: Daily Trading News share Read Next Japan back in recession FxPro - Forex Broker 7 years The US dollar was sold-off across the board on Friday, as metals found support. However, despite some weakness on the USD Index, we still see USD pairs as only trading in a corrective phase. On EURUSD there is a three wave recovery from 1.2355, so a leg from 1.2396 can be wave (c) as part of a wave 4. Notice that the price is already trying to turn down from the resistance line, so ideally we will see more weakness in the sessions ahead. I would personally like to see EURUSD back beneath 1.2470 for a possible short opportunity. EURUSD… Top 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.
