EURUSD Bulls Could Extend Up to 1.3900 – Elliott Wave Analysis

EURUSD is bullish for the last few weeks with accelerating price action from 1.3470 so we suspect it represents a black wave 3 in progress that may extend even up to 1.3900 with five subwaves. Right now price could be slowing down in wave (iv), but only temporary as we will look for a push up in wave (v) in this week. Support for current pull-back comes in around 1.3760.

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: