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Elliott Wave Forecast For EURUSD: Pair Could Retest 1.3220

Jul. 16, 2013 4:04 AM ET
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EURUSD reversed sharply from the lows last week after Bernanke speech. Pair moved straight up almost 400 pips in just two days. However, larger trend for the EURUSD is still down so we are observing bearish wave count as long as 1.3415 high is in place. We are tracking a corrective rally that which has room for more gains in the near future as corrections are three wave patterns, so an A-B-C recovery could reach 1.3220-1.3250level in the near-term.

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