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

EURUSD: Downtrend Continuation To 1.2700-Elliott Wave

EURUSD made a three wave rally in this week which has been expected in wave 4, but now pair is already turning lower again after completed zig-zag at 1.3000 psychological level. We can see that price broke through the lower side of a corrective channel which is a very important evidence for further EURUSD weakness, this time to 1.2680/1.2730 for wave 5. Critical level now stands at 1.3000; bearish trend below it.

Don't miss out, Special offer for new members
FREE 7-DAY TRIAL

For more analysis visit us at http://www.ew-forecast.com/