• About
  • Elliott Waves
    • Elliott Waves Explained
    • Elliott Wave Magic Illustrated with Wave Charts
    • Elliott Wave Edge – How Elliott Wave Traders Win
    • Fibonacci Number Series and Elliott Waves
    • How to use Fibonacci Ratio Retracements
    • Elliott Wave Books
      • The Elliott Wave Book – Five Waves to Financial Freedom
      • Dividend Growth Investing Using Elliott Waves
    • Videos
  • Equities
    • Indices
      • Africa
        • Egypt
      • Australia
      • European Indices
        • AEX – Index, Amsterdam
        • DAX Index
        • Istanbul
        • Russia
        • Spain’s IBEX 35
      • Asian Indices
        • India
        • China
        • Dubai
        • Kuwait
        • Kuala Lumpur
        • Pakistan
        • Saudi
        • Taiwan
      • US Indices
        • S&P500
        • Nasdaq
        • Dow Jones
        • Dow Jones Utilities
    • Stocks
      • Asian Stocks
        • Indian Stocks Trading
        • Dubai Stocks Outlook
        • Japanese Stocks
        • Kuwait stocks
        • Saudi Stocks Outlook
      • African Stocks
        • Egyptian Stocks
      • Swiss Stocks
      • Australian Stocks
      • European Stocks
      • US Stocks outlook
      • UK Stocks
  • Commodities
    • Copper
    • Gasoline
    • Gold
    • Natural Gas
    • Oil
    • Palm Oil
    • Raw Sugar
    • Rubber
    • Soybean Oil
    • Silver
  • Forex
    • AUD
    • Bitcoin
    • CAD
    • CHF
    • Euro
    • GBP
    • INR
    • NZD
    • JPY
  • Raves
  • Consulting
    • Consulting
  • Ramki’s Watchlist
Top News

Has Meta (Facebook) stock seen the bottom

March 21, 2022

What Is The Nearest Technical Support For Meta (NASDAQ: FB)

February 7, 2022

Using Elliott Waves to Capture a Trade in S&P500

January 27, 2022
Facebook Twitter Instagram
Facebook Twitter Instagram
WaveTimes Blog WaveTimes Blog
Wave times
  • About
  • Elliott Waves
    • Elliott Waves Explained
    • Elliott Wave Magic Illustrated with Wave Charts
    • Elliott Wave Edge – How Elliott Wave Traders Win
    • Fibonacci Number Series and Elliott Waves
    • How to use Fibonacci Ratio Retracements
    • Elliott Wave Books
      • The Elliott Wave Book – Five Waves to Financial Freedom
      • Dividend Growth Investing Using Elliott Waves
    • Videos
  • Equities
    • Indices
      • Africa
        • Egypt
      • Australia
      • European Indices
        • AEX – Index, Amsterdam
        • DAX Index
        • Istanbul
        • Russia
        • Spain’s IBEX 35
      • Asian Indices
        • India
        • China
        • Dubai
        • Kuwait
        • Kuala Lumpur
        • Pakistan
        • Saudi
        • Taiwan
      • US Indices
        • S&P500
        • Nasdaq
        • Dow Jones
        • Dow Jones Utilities
    • Stocks
      • Asian Stocks
        • Indian Stocks Trading
        • Dubai Stocks Outlook
        • Japanese Stocks
        • Kuwait stocks
        • Saudi Stocks Outlook
      • African Stocks
        • Egyptian Stocks
      • Swiss Stocks
      • Australian Stocks
      • European Stocks
      • US Stocks outlook
      • UK Stocks
  • Commodities
    • Copper
    • Gasoline
    • Gold
    • Natural Gas
    • Oil
    • Palm Oil
    • Raw Sugar
    • Rubber
    • Soybean Oil
    • Silver
  • Forex
    • AUD
    • Bitcoin
    • CAD
    • CHF
    • Euro
    • GBP
    • INR
    • NZD
    • JPY
  • Raves
  • Consulting
    • Consulting
  • Ramki’s Watchlist
WaveTimes Blog WaveTimes Blog
Home » Elliott Wave Analysis of EUR/USD
Euro

Elliott Wave Analysis of EUR/USD

RamkiBy RamkiApril 26, 20112 Comments3 Mins Read
Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest Email

Elliott Wave analysis is always a work-in-progress. We could determine a possible target at one point in time, and once that is reached, a new higher target might become necessary depending on fresh information. It is important to understand that determining a target does not mean one should sell as soon as that target is reached. A sell recommendation is called for when a particular set-up is presented by the market.

Take the case of the EUR/USD. My Elliott Wave analysis posted on 6th March (when the Eur/USD was at 1.3980) suggested a move to 1.4374. Then on 7th April, when we were around 1.4350, I warned that we could get a push higher again from 1.4220 but recommended to lighten up on longs as we moved higher as there was a distinct possibility of a move lower to 1.4020. FRom 1.4240, the Euro reached a high of 1.4550 and moved lower quite quickly, but reached only 1.4150 on 18th April. Still the warning was useful, and anyone who was riding long would have benefitted by knowing in advance of an imminent shake up.

The EURO has rallied smartly again from 1.4150, and it is time to consider how far it will go. We have some event risks tomorrow in the form of a press conference from Ben Bernanke. If he disappoints, the Euro could move quickly higher to 1.4785. The immediate hurdle lies at 1.4680. Don’t be surprised if you hear Mr Trichet saying his bit (something like a strong USD is in the best interest of everyone, or too rapid a move in forex markets was not a welcome development) Such comments will cause a few hearts to beat faster, but the key level where one will really have to be ready for a medium term trade will probably be near 1.5175. I will, no doubt, talk to you again if we reach those levels. But at least you now have a road map, and what I currently think about the EUR/USD based on my Elliott Wave analysis of this currency pair.

Finally, what will happen if we are unable to break above 1.4680? Such a development will expose 1.4365/75 from where we can look for a recovery back to 1.4500, by which time I will have fresh information to take to the drawing board. However, at this point in time you know my preference is for a move to 1.4785 initially.
Good luck! Ramki

Ramki
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Previous ArticleElliott Wave update on USD/JPY
Next Article NSEI 4800, here we come.
Ramki
  • Website

Related Posts

How we traded EURJPY recently

October 23, 2019

An example of EURUSD analysis using Elliott Waves

May 8, 2018

What WaveTimes could do for you in EURUSD

May 8, 2017
View 2 Comments

2 Comments

  1. ziad on April 27, 2011 3:27 pm

    What a nice call on EUR/USD ..
    Weldone Ramki keep it up professional. Good Luck To All
    Cheers
    Ziad

    Reply
    • Ramki on April 27, 2011 9:45 pm

      Hi Ziad, Nice to hear from you again. Now that 1.4785 is truly behind us, the focus continues to be to the upside. As I said earlier, there is no question of being short Euro for now.

      Reply

Leave A Reply Cancel Reply

Recent Posts
  • Has Meta (Facebook) stock seen the bottom
  • What Is The Nearest Technical Support For Meta (NASDAQ: FB)
  • Using Elliott Waves to Capture a Trade in S&P500
  • Hedge Funds and Elliott Waves – Netflix $NFLX
  • When Elliott Waves applauds the promoter’s signals!

WaveTimes is a Research Organization dedicated to providing original analysis, reports, reviews, and insights on developments in mutual funds, stocks, investing, foreign exchange, commodities, and bonds.

Contact WaveTimes

L-601 Mantri Espana,

Kariyammana Agrahara, Bellandur, Bangalore 560103

Follow Us

  • Facebook
  • YouTube
  • Twitter

© 2023 Wave Times. All Rights Reserved.
  • About
  • Books
  • Privacy Policy
  • Policies and Standards

Type above and press Enter to search. Press Esc to cancel.