EURUSD Elliott Wave Analysis: Correction With In Uptrend

eurusd-elliott-wave

EURUSD has been trading to the upside last week after broken channel line connected from 2014 highs with impulsive price action from 1.3671. As such, we think that leg from the low is part of a larger uptrend that may touch 1.4000 in April. Therefore current retracement from 1.3900 is probably just a short-term corrective pullback that may look for a support around 1.3760-1.3820 zone.
EURUSD 4h Elliott Wave Analysis
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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 TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com