Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Social Mood and Leaders Impact on General Election Forecast 2019 - 9th Dec 19
Long-term Potential for Gold Remains Strong! - 9th Dec 19
Stock and Financial Markets Review - 9th Dec 19
Labour / Tory Manifesto's Impact on UK General Election Seats Forecast 2019 - 9th Dec 19
Tory Seats Forecast 2019 General Election Based on UK House Prices Momentum Analysis - 9th Dec 19
Top Tory Marginal Seats at Risk of Loss to Labour and Lib Dems - Election 2019 - 9th Dec 19
UK House Prices Momentum Tory Seats Forecast General Election 2019 - 8th Dec 19
Why Labour is Set to Lose Sheffield Seats at General Election 2019 - 8th Dec 19
Gold and Silver Opportunity Here Is As Good As It Gets - 8th Dec 19
High Yield Bond and Transports Signal Gold Buy Signal - 8th Dec 19
Gold & Silver Stocks Belie CoT Caution - 8th Dec 19
Will Labour Government Spending Bankrupt Britain? UK Debt and Deficits - 7th Dec 19
Lib Dem Fake Tory Election Leaflets - Sheffield Hallam General Election 2019 - 7th Dec 19
You Should Be Buying Gold Stocks Now - 6th Dec 19
The End of Apple Has Begun - 6th Dec 19
How Much Crude Oil Do You Unknowingly Eat? - 6th Dec 19
Labour vs Tory Manifesto Voter Bribes Impact on UK General Election Forecast - 6th Dec 19
Gold Price Forecast – Has the Recovery Finished? - 6th Dec 19
Precious Metals Ratio Charts - 6th Dec 19
Climate Emergency vs Labour Tree Felling Councils Reality - Sheffield General Election 2019 - 6th Dec 19
What Fake UK Unemployment Statistics Predict for General Election Result 2019 - 6th Dec 19
What UK CPI, RPI and REAL INFLATION Predict for General Election Result 2019 - 5th Dec 19
Supply Crunch Coming as Silver Miners Scale Back - 5th Dec 19
Gold Will Not Surpass Its 1980 Peak - 5th Dec 19
UK House Prices Most Accurate Predictor of UK General Elections - 2019 - 5th Dec 19
7 Year Cycles Can Be Powerful And Gold Just Started One - 5th Dec 19
Lib Dems Winning Election Leaflets War Against Labour - Sheffield Hallam 2019 - 5th Dec 19
Do you like to venture out? Test yourself and see what we propose for you - 5th Dec 19
Great Ways To Make Money Over Time - 5th Dec 19
Calculating Your Personal Cost If Stock, Bond and House Prices Return To Average - 4th Dec 19
Will Labour Government Plant More Tree's than Council's Like Sheffield Fell? - 4th Dec 19
What the UK Economy GDP Growth Rate Predicts for General Election 2019 - 4th Dec 19
Gold, Silver and Stock Market Big Picture: Seat Belts Tightened - 4th Dec 19
Online Presence: What You Need to Know About What Others Know About You - 4th Dec 19
New Company Tip: How To Turn Prospects into Customers with CRM Tech - 4th Dec 19
About To Relive The 2007 US Housing Market Real Estate Crash Again? - 3rd Dec 19
How Far Will Gold Reach Before the Upcoming Reversal? - 3rd Dec 19
Is The Current Stock Market Rally A True Valuation Rally or Euphoria? - 3rd Dec 19
Why Shale Oil Not Viable at $45WTI Anymore, OPEC Can Dictate Price Again - 3rd Dec 19
Lib Dem Election Dodgy Leaflets - Sheffield Hallam Battle General Election 2019 - 3rd Dec 19
Land Rover Discovery Sport Brake Pads Uneven Wear Dash Warning Message at 2mm Mark - 3rd Dec 19
The Rise and Evolution of Bitcoin - 3rd Dec 19
Virtual games and sport, which has one related to the other - 3rd Dec 19
The Narrative About Gold is Changing Again - 2nd Dec 19
Stock Market Liquidity & Volume Diminish – What Next? - 2nd Dec 19
A Complete Guide To Finding The Best CFD Broker - 2nd Dec 19
See You On The Dark Side Of The Moon - 2nd Dec 19
Will Lib Dems Win Sheffield Hallam From Labour? General Election 2019 - 2nd Dec 19
Stock Market Where Are We?  - 1st Dec 19
Will Labour's Insane Manifesto Spending Plans Bankrupt Britain? - 1st Dec 19
Labour vs Tory Manifesto Debt Fuelled Voter Bribes Impact on UK General Election - 30th Nov 19
Growing Inequality Unrest Threatens Mining Industry - 30th Nov 19
Conspiracy Theories Are Killing This Nation - 30th Nov 19
How to Clip a Budgies / Parakeets Wings, Cut / Trim Bird's Flight Feathers - 30th Nov 19
Hidden Failure of SIFI Banks - 29th Nov 19
Use the “Ferrari Pattern” to Predictably Make 431% with IPOs - 29th Nov 19
Tax-Loss Selling Drives Down Gold and Silver Junior Stock Prices - 29th Nov 19
We Are on the Brink of the Second Great Depression - 29th Nov 19
How to Spot REAL Amazon Black Friday Bargains and Avoid FAKE Sales - 29th Nov 19

Market Oracle FREE Newsletter

UK House prices predicting general election result

Euro Currency Bulls May Soon Have Their Day in the Sun

Currencies / Euro Feb 19, 2015 - 10:36 AM GMT

By: EWI

Currencies

Our "Pro Service Outlook 2015" FREE video event introduces you to the near- and long-term forecast for the world's most popular FOREX markets -- and so much more

As the euro clings to the guardrail of a 7- (no, wait) 9- (Doh! there it goes again) now 11-year low, debate over the future of the eurozone's currency rages on. And in the mix, the ultimate four-letter FOREX word just reared its ugly head: PARITY.


"The euro is likely to reach a 1-1 ratio with the dollar for the first time since 2002." (Feb. 2, Wall Street Journal)

Amidst the flurry, we'd like to focus your attention on another word -- CLARITY -- and invite you to take an objective step back and evaluate why the euro is where it is today.

First, you have to go back to the beginning of the euro's dramatic sell-off, to the early part of last year. At the time, the euro was orbiting a 2.5 year high against the U.S. dollar having soared 15% from its 2012 bottom. The strongest thing we remember about this time, though, was how certain mainstream analysts were in the euro's ongoing upside potential.

There were, after all, plenty of "fundamental" reasons to embolden the bullish claim, such as: strong eurozone economic data, growing demand for the euro's perceived safety, and most of all, an accommodative monetary policy by the European Central Bank.

In March 2014, ECB President Mario Draghi gave the ultimate green light to euro bulls: Draghi called the eurozone economy an "island of stability," and foresaw no need for radical, currency-debasing rescue efforts such as rate cuts or quantitative easing. Here, these news items from the time set the scene:

"ECB unlocks the door for further euro strength... and helped the euro realize its pent-up bullish potential." (March 8, 2014 Yahoo! Finance)

"Euro Strength Here to Stay, Unless ECB Steps In" (April 16, 2014 Reuters)

"The euro needs to cross the 1.42 handle before the ECB takes any action to weaken the currency." (May 5, 2014 CNBC)

Yet despite the seemingly perfect euro rally set-up, the bottomed dropped out on May 8, 2014. The euro's dramatic reversal kicked in, even as the ECB held true to its no-action policy until finally pulling the QE trigger on January 22, 2015.

In the end, the euro's fundamental backdrop did NOT lend itself to a major turn.

But in fact, the Elliott wave pattern forefront on the euro's price chart -- did. One day after the euro's 2014 peak, our May 9, 2014 Currency Pro Service posted a special video forecast for the most popular currency pair on the planet: the EURUSD. In that video, Currency Pro Service editor Jim Martens identified a multi-year ending diagonal on the euro's daily price chart. And, as its name suggests, this particular Elliott wave pattern signaled an "end" to the rising trend. Please go ahead and watch this clip from Jim's video to hear him explain the diagonal's bearish implications in person:

As it turns out, the ECB did not "unlock the door to the euro's strength." However, this single Elliott wave pattern did unlock the door to the euro weakness we see today.

And now, as part of our brand-new "Pro Service Outlook 2015" Club EWI event, Jim Martens has recorded a special 8-minute video of the near- and long-term trend changes in store for the EURUSD. There, Jim drops a huge bombshell by showing several key pieces of evidence to support a near-term euro bottom, including a potentially complete five-wave decline from the 2014 peak.

Watch the clip below to enjoy his analysis firsthand:

From there, Jim walks you through the exact trajectory prices must take to confirm a strong move to the upside.

Now get this: Jim's FOREX video is the first of a total FOUR videos included in our "Pro Service Outlook 2015" event. The remaining coverage includes EURGBP, EURJPY, crude oil and gold -- a compilation of some of the world's most highly traded financial markets. And the best part is, you can watch all four videos right now, for FREE!

Never before have we put together such an incredible offer for our ever-growing community of Club EWI members. Join today and take advantage before we wake up and realize we've totally lost our marbles! Access to this incredible "Pro Service Outlook 2015" event ends on February 20, so time is limited.

Click here and follow the fast steps to becoming a Club EWI member.

Or -- for existing Club EWI members, click here to start watching the "Pro Service Outlook 2015" videos today.


This article was syndicated by Elliott Wave International and was originally published under the headline Euro Bulls May Soon Have Their Day in the Sun. 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.

About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules