27 Feb 2015
EUR/USD to continue its downslide towards 1.0800-1.0940 area – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, gives the technical outlook for EUR/USD using Elliott Wave Analysis, expecting the pair to continue its downslide in the sessions ahead.
Key Quotes
“EURUSD broke through 1.1260 support after strong decline yesterday with a daily close outside of the range, so we assume that corrective blue wave (4) is now finally complete.”
“If that was the case then it was a triangle placed in wave (4) so market should then continue straight down in sessions and days ahead.”
“We anticipate five wave decline to a new low, probably to 1.0800-1.0940 area.”
Key Quotes
“EURUSD broke through 1.1260 support after strong decline yesterday with a daily close outside of the range, so we assume that corrective blue wave (4) is now finally complete.”
“If that was the case then it was a triangle placed in wave (4) so market should then continue straight down in sessions and days ahead.”
“We anticipate five wave decline to a new low, probably to 1.0800-1.0940 area.”