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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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  • Elliott Wave Forecast For EURUSD: Prices Up Before Down 0 comments
    Jul 26, 2013 8:59 AM

    EURUSD is moving higher for the last few days but on very low volume and momentum, which is usually an early signal for a trend change. This is clearly evident on RSI with bearish divergence. From an Elliott Wave Perspective we can also see a three wave A-B-C rise from 1.2750 which is a structure of a corrective price action. As such, traders must be aware of a bearish reversal especially if we consider a shape of an ending diagonal which is a trend-reversal pattern. An impulsive fall from highs and down to 1.3160 will be a first but strong indication that rally is complete and that EUR is headed lower.

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