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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 Analysis: EURUSD Corrective Rally In Progress  0 comments
    Jan 13, 2014 4:19 AM

    EURUSD moved higher on Friday which should not be a surprise as we know that after every five waves correction follows. We can count impulse down in red wave 1) so current upward reaction is normal. We are tracking wave 2) that represents a contra-trend reaction that should be made by three legs. We will be tracking A-B-C waves up to 1.3700-1.3750 region from where pair could turn down again, back to 1.3543. Critical, or invalidation level remains at 1.3891; as long it will hold, trend is down.

    EURUSD 4h elliott wave analysis

    (click to enlarge)

    Written by www.ew-forecast.com

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