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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • EURUSD: One-Two One-Two Bearish Set-Up!? - Elliott Wave Forecast 0 comments
    May 14, 2013 11:39 AM

    EURUSD broke sharply lower last week after a break through the trend-line support connected from April lows. This break usually leads to a continuation of a larger trend which in our case is down. For now, decline from the high is still in three waves, but we will go with one-two one-two scenario because of a larger bearish view for the EUR. With that said, we are bearish now and expect 1.2935 break that will put 1.2800 level in play for this week. Resistance for current wave (ii) comes in at 1.3030 followed by 1.3070.

    On the other-hand, we will turn bullish only if we see an impulse back up to 1.3130 that will make wave (2) rally even more complex.

    (click to enlarge)

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