Sharp and
extended fall through 2012 support line with a monthly price close beneath it
suggest that EUR will extend much deeper in 2013. In fact, on the line chart we
can see that decline is very clean and directional. Move can be counted
impulsively which is bearish sign for the pair, but we expect a three wave
bounce back to 1.3150 -1.3250 in the next few days, before downtrend extends.
The reason
for a possible top in place on EURUSD is also German Bund market. For more detail Elliott wave video analysis
on this, please check the video below.
http://bit.ly/YCn4lc
