FX.co ★ EUR/USD Analysis by Elliot Waves, November 24, 2010 (Weekly Strategy)

EUR/USD

The technical analysis denotes that the level of 1.3180 will be very meaningful support levels that may serve as a key point for a buy deal. The EUR/USD pair may stretch the borders of correction and reach its final mark around 1.3070, where it probably will reinforce the buy position once more. Our exit goals are forecasted with the help of 5th Elliot cycle wave, and are located around 1.4100 and 1.4450; 1.4500 levels respectively.