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Eurusd Is Pushing Higher, Eyeing 1.2


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Good day traders!

EURUSD has turned up in the last two weeks; it broke above the channel resistance line that normally confirms a previously completed move; in our case that was finished a-b-c decline from September high. As such, it seems that wave four on a daily time frame came to an end about we talked a lot in the past which means that more gains may follow now within higher degree wave five, currently within sub-wave three that might have started from 1.1710 now underway to 1.2.

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EURUSD, 4H

4h eurusd

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About the author


Grega Horvat

 

 

  • Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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