Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

EURUSD Within Downtrend – Elliott Wave

EURUSD has finally turned bearish after very complex and slow recovery from 1.3293 low. We believe this is a corrective move that is now showing signs of completion around 1.3576. The reason is latest sharp decline through the lower support line of a corrective channel which is important break for a continuation in the direction of a trend, which is down. We expect a revisit of 1.3293 in the next few days.

(click to enlarge)Click to enlarge

Written by www.ew-forecast.com