{"id":3116,"date":"2023-05-22T13:34:23","date_gmt":"2023-05-22T13:34:23","guid":{"rendered":"http:\/\/ewforex.net\/blog\/?p=3116"},"modified":"2023-05-22T13:34:24","modified_gmt":"2023-05-22T13:34:24","slug":"eurusd","status":"publish","type":"post","link":"https:\/\/ewforex.net\/blog\/economia\/eurusd\/","title":{"rendered":"EURUSD BEARISH TREND COTINUES"},"content":{"rendered":"\n

EWFOREX.NET<\/p>\n\n\n\n

EURO DOLLAR is up slightly this morning on the first trading day of the week. However the Elliott Wave structure is still very much bearish for the rest of the month. <\/p>\n\n\n\n

$EURUSD<\/a> up this morning at 1.0825.\u00a0 However, technically, the pair is still on its downward march from the 1.1065 high.\u00a0 The chart below is a weekly chart.\u00a0 Today’s candle is the first day of trading this week. As you can see, it is slightly up this morning but inside last week\u2019s candle.\u00a0 As long as its stays inside, we can expect the downward trend to continue.<\/p>\n\n\n\n

EURUSD WEEKLY CHART<\/a><\/p>\n\n\n\n

\"\"
Above is a weekly chart of EURUSD with Elliott Wave labeling by Raul Fernando Luna Toro<\/figcaption><\/figure>\n\n\n\n

ELLIOTT WAVE STUCTURE<\/h4>\n\n\n\n

\u00a0The Elliott wave structure form the 1.1.32 high is most likely forming an expanded flat. Notice the 1.1065 high made it above the 1.1032 slightly and then failed dropping down back into Intermediate degree (1) range territory.\u00a0 Downside price target is at the 1.0437 35.2% 2vs1.\u00a0<\/p>\n\n\n\n

LONG TERM PRICE ACTION<\/h4>\n\n\n\n

The benchmark pair is most likely on a primary degree upward trend form the Sept 2022 lows. Long term Elliott Wave structure is favoring this forecast. The move up from the 2022 low to the the 1.1032 high is a nice impulse. And the price action since then has been corrective but at the final waves down to compete Intermediate degree (2). These types of correctives do not retrace very much of their respectiva impulses. The 38.2% is the most likely stop for this one. Since this corrective put in a new high above the 1.1032 and failed, we can expect a move back down below the 1.0516 as expanding flats do. If can also take off before putting in this new low in which case it will be an running flat. however these are rare by compassion to expanding. chances favor a move down to the 38.2% 2vs1. <\/p>\n","protected":false},"excerpt":{"rendered":"

EWFOREX.NET EURO DOLLAR is up slightly this morning on the first trading day of the week. However the Elliott Wave structure is still very much bearish for the rest of the month. $EURUSD up this morning at 1.0825.\u00a0 However, technically, the pair is still on its downward march from the 1.1065 high.\u00a0 The chart below […]<\/p>\n","protected":false},"author":1,"featured_media":3117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economia"],"yoast_head":"\nEURUSD BEARISH TREND COTINUES | Casa de cambios | ewforex.net<\/title>\n<meta name=\"description\" content=\"EURO DOLLAR is up slightly this morning on the first trading day of the week. But still down longer term. 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