Elliott Wave InternationalmyEWISocioniomics.Net
Home > Currencies
EUR/USD: A Beautiful Elliott Wave Reversal
Here's how Elliott wave analysis could have helped you catch it.
By Vadim Pokhlebkin
Tue, 19 Jun 2012 00:00:00 ET
Add to Facebook Add to Twitter Email to a friend Printer Friendly Get the RSS feed Add to more social media services
Get investable insights sent to your inbox at least once a week – for free. Challenge the way you think about investing with The EWI Independent. Privacy

Last Friday (June 15), going into the weekend, the euro looked strong -- as one source had put it, on hopes "that whatever the outcome of the Greek election being held over the weekend, the international community would actively work to support the euro-zone."

Then on Sunday, once it became known that Greece was not dropping out of the eurozone just yet, the euro got even stronger. EUR/USD, the euro-dollar exchange rate, shot up about 100 pips, from $1.2640 to $1.2740.
 
But then the rally stalled, and come Monday (June 18), EUR/USD gave back all of the gains and then some, dropping some 200 pips to as low as $1.2560. So much for the euro "optimism."
 
Here's how Elliott wave analysis could have helped you catch that reversal. At 5:53 PM ET on Sunday, June 17, our forex-focused Currency Specialty Service posted this forecast:
 
EURUSD (Intraday)
Posted On: Jun 17 2012 5:53PM ET / Jun 17 2012 9:53PM GMT
Last Price: 1.2705 
 
 
[Peaking] The rise above 1.2670 is part of wave 'C' of 'y' and should run into trouble near the 1.2742 level where waves 'A' and 'C' would be equidistant.
 
Guess where the EUR/USD rally peaked on Sunday? $1.2745, at the near-perfect Elliott wave target! As we mentioned before, at highly emotional moments in the markets Elliott wave patterns get particularly clear, and this is a great example of that.

Waiting around for the news to "explain" why the forex market did what it did means to always be one step behind the action. Elliott wave analysis helps you stay ahead.


Euro, Cable, Yen, Aussie -- 12 Forex Pairs in All

Our Currency Specialty Service was previously one of EWI's most expensive packages reserved primarily for professional forex traders. 

A few years ago, we unpackaged it and made it affordable for individual forex traders while preserving its professional qualities.

What's more, you can select just the coverage of the markets you actually need.

The more Specialty Services you select, the less each one costs -- and for the depth of coverage you get, they are bargain-priced.

You get intraday and daily updates on these 12 most-traded forex pairs:

Dollar Rates
  • EURUSD
  • GBPUSD
  • AUDUSD
  • DX, U.S. Dollar Index
  • USDCHF
  • USDJPY
  • USDCAD
Cross Rates
  • EURCHF
  • EURJPY
  • EURGBP
  • EURCAD
  • AUDJPY
  • GBPJPY

Get the latest forex forecasts now >>

 

 

Tags: Elliott Wave trading, euro, European debt crisis, eurozone, forex, forex trading, online trading, trade targets, U.S. dollar
Rating: - based on [21 rating(s)]
Rate this content:
  

 
 
EWI's Event Calendar
Aug. 11-14   

4-Day Market Mentor Trading Course - Orlando, FL - Save $600 Now

Aug. 15-17 

San Francisco Money Show

Nov. 10-13    

New Orleans Investment Conference




FFS

EWI's Currency Specialty Service delivers 24-hour-a-day coverage of the world's most traded currency pairs so you'll know every Elliott wave implication of every market move. Subscribe now and get instant access to actionable forecasts for:

EUR/USD         USD/JPY
GBP/USD
USD Index 
USD/CHF        USD/CAD 
AUD/USD
EUR/GBP
EUR/JPY
EUR/CAD
GBP/JPY
AUD/JPY
 

Discover what a team of Elliott wave experts can do for your forex trading>>


Free 14-page eBook


Trading Forex: How the Elliott Wave Principle Can Boost Your Forex Success

EWI's Senior Currency Strategist Jim Martens pulls from 25+ years of experience using Elliott wave analysis to show how you can put the power of the Wave Principle to work in your forex trading.
Download Trading Forex free.

*Currencies


© 2013 Elliott Wave International

The Elliott Wave Principle is a detailed description of how financial markets behave. The description reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific Elliott wave patterns in price movements. Each pattern has implications regarding the position of the market within its overall progression, past, present and future. The purpose of Elliott Wave International’s market-oriented publications is to outline the progress of markets in terms of the Wave Principle and to educate interested parties in the successful application of the Wave Principle. While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will Elliott Wave International make specific recommendations for any specific person, and at no time may a reader, caller or viewer be justified in inferring that any such advice is intended. Investing carries risk of losses, and trading futures or options is especially risky because these instruments are highly leveraged, and traders can lose more than their initial margin funds. Information provided by Elliott Wave International is expressed in good faith, but it is not guaranteed. The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities. Please ask your broker or your advisor to explain all risks to you before making any trading and investing decisions.