EURUSD Elliott Wave Analysis: Correction Before Bearish Move

EURUSD fell to a new low so it seems that wave 4 finished earlier than we thought and that current leg down is wave 5, final leg of an impulsive wave 1). Price is approaching 1.3527 support back from early December from where we may see a three wave rally in wave 2), back to 1.3660/1.3720 region. As per Elliott wave principle, after every five waves correction follows, so do not get surprised by a temporary change in trend. Larger trend for EURUSD remains down!

EURUSD 4h Elliott Wave Analysis
EURUSD Elliott Wave Analysis

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Tags: EURUSD, elliott-wave, eurusd-elliott, eurusd-forecast, eurusd-wave

Comment by Francesc Riverola on January 9, 2014 at 8:36am
congratulations Gregor for having one of the top5 most viewed FX webinars of the year at FXstreet. Congrats!!! http://www.forexstreet.net/profiles/blogs/2013-top-5-forex-webinars...

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