{"id":79910,"date":"2015-10-21T13:24:29","date_gmt":"2015-10-21T17:24:29","guid":{"rendered":"http:\/\/countingpips.com\/?p=79910"},"modified":"2015-10-21T13:24:29","modified_gmt":"2015-10-21T17:24:29","slug":"did-usd-just-bottom-did-eur-just-top","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/10\/did-usd-just-bottom-did-eur-just-top\/","title":{"rendered":"Did USD Just Bottom? Did EUR Just Top?"},"content":{"rendered":"
October 21, 2015<\/div>
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Find out free — now, during Forex FreeWeek at elliottwave.com! <\/span><\/h3>\n

By Elliott Wave International<\/span><\/h3>\n

Late last week — and then again on Monday — EURUSD, the world’s most traded forex pair, fell sharply. In fact, the euro lost almost 200 pips, or two cents, against the buck.<\/p>\n

Here’s a chart of that decline, copied from our Currency Pro Service<\/i> (partial Elliott wave labels shown):<\/p>\n

\"EURUSD<\/p>\n

Our Currency Pro Service<\/i> editor, Jim Martens, just posted a new video for FreeWeek participants where he explained why he’s bullish on the USD. So this reversal certainly fits the “big picture.”<\/p>\n

However, forex markets rarely move in a straight line. Even if the euro top is in, temporary rallies are inevitable.<\/p>\n

Indeed, on Tuesday morning, EURUSD rebounded — but the recovery stalled after retracing a Fibonacci 38.2% of the prior decline and within the area of the fourth wave of one lesser degree. Again, this Currency Pro Service<\/i> chart illustrates this attampted rally for you:<\/p>\n

\"EURUSD<\/p>\n

The fourth wave of lesser degree often acts as resistance — and appears to have done so in this instance.<\/p>

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<\/div>\n

Did the euro just peak? Did the dollar just bottom?<\/p>\n

Well, wonder no more. The good news is, you can get our most up-to-date forecasts for EURUSD (plus, the Japanese yen, British pound and more) now, completely free<\/a>, during the ongoing Forex FreeWeek!<\/p>\n

FreeWeek (Oct. 19-23) is 100% free to Club EWI members and EWI subscribers. Simply put, you get full access to our premier Currency Pro Service<\/i>: new forex forecasts for 11 forex pairs, 24 hours a day. There is no catch, and we won’t ask for your credit card number.<\/p>\n

Ready? Register for Forex FreeWeek now to see our new FX forecasts now, free.<\/a><\/strong><\/p>\n

(Forex FreeWeek ends Oct. 23, so you may want to hurry.)<\/p>\n

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This article was syndicated by Elliott Wave International and was originally published under the headline Did USD Just Bottom? Did EUR Just Top?<\/strong><\/a>. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Find out free — now, during Forex FreeWeek at elliottwave.com! By Elliott Wave International Late last week — and then again on Monday — EURUSD, the world’s most traded forex pair, fell sharply. In fact, the euro lost almost 200 pips, or two cents, against the buck. Here’s a chart of that decline, copied from […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-79910","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/79910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=79910"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/79910\/revisions"}],"predecessor-version":[{"id":79911,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/79910\/revisions\/79911"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=79910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=79910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=79910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}