![\"\"](\"https:\/\/lh6.googleusercontent.com\/nAd_1NkTi0cJorH-RDjyc7y6pdtDpnUFfykh3zl8L6rKq_G_w_n34u7q851hNd_rF1n5cSM6_iMoerFJ-FHiTfzogRWFsKqKqWCZWuu_Pdb-9Mt69mIL20MmtY90eOz7FQxRuaI\")
\nEURUSD count #2<\/p>\n
The USD is on the move since yesterday when the FED said it would reduce its monthly bond purchases by an additional $10 billion to $55 billion. The USD also recovered on hints from Fed Chair Janet Yellen that the bank could begin to raise interest rates sooner than anticipated.<\/p>\n
Gold is moving down, S&P falling as well and USD is up against all other major currencies. Our focus today and tomorrow will be on EURUSD. A decline from 1.3966 March high is in three legs, and now we need to have to wait on important evidences, either to confirm a corrective retracememnt which would allow us to look for longs once the market bottoms or we wait more signs for a bearish impulse as this one is also one of the possibility. However, for a bearish case we would need to see further impulsive weakness down 1.3700\/40, to make sure it\u2019s an extended wave (iii).<\/p>\n
\nEURUSD count #1<\/p>\n
\nEURUSD count #2<\/p>\n
![\"\"](\"https:\/\/lh3.googleusercontent.com\/A3COEv-i_KrqUdh-fQae96MfQbNA0Cy4Y5vbj-O676B3ZW9rxOwuaa8TLl_uRemw0bdA0BePqNBHlG45K0d47UPgR1Qsy1Pns3x0rngwCf9a85Bk3W0oenigenxamtXJdpcORH4\")
Bearish count has my special attention because of the S&P Futures that can revisit 1820 level from last week. EURUSD and S&P has positive correlation now; in fact EURUSD is even weaker than the S&P so if S&P will fall down, which is expected then EUR may lose even more value against the USD .<\/p>\n
\nEURUSD vs S&P 1h<\/p>\n
![\"\"](\"https:\/\/lh5.googleusercontent.com\/Q3BrrNHZKdI1rPqR5nVpPgu2bTICi8fomD2y6fyTA1mchKhGZQZccueaUxH9XX70wXBwrJQzzPJNe3S4woJH3xZGO7_DjG-cKuvBb6EBTWQ_i7jAZCRjv_OkqNM4I0HZOoFkw5s\")
Written by www.ew-forecast.com<\/a><\/p>\n