5 Mar 2015
EUR/USD: More declines left – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis to predict that EUR/USD might make a move lower towards 1.0800/1.0930.
Key Quotes
“EURUSD has accelerated to the downside yesterday and broke to new lows as expected. We have been looking for that move since we highlighted a completed triangle in fourth wave.”
“Well, we are now tracking wave (5) that should be structured by five subwaves.”
“But if you look closely at the price action from 1.1388 then you will notice that decline is still not done, as subwaves 4) and 5) are missing.”
“As such, we suspect that pair will reach lower levels, possibly at 1.0800/1.0930.”
“Invalidation level is at 1.1155.”
Key Quotes
“EURUSD has accelerated to the downside yesterday and broke to new lows as expected. We have been looking for that move since we highlighted a completed triangle in fourth wave.”
“Well, we are now tracking wave (5) that should be structured by five subwaves.”
“But if you look closely at the price action from 1.1388 then you will notice that decline is still not done, as subwaves 4) and 5) are missing.”
“As such, we suspect that pair will reach lower levels, possibly at 1.0800/1.0930.”
“Invalidation level is at 1.1155.”