Current trends in the elliot waves for the currency pair including the euro and the US dollar demonstrate an impatience for the breakout to the downside.
Elliot waves is all about finding patterns in the waves that occur in the trading of foreign currencies. The founder of Elliot waves, Elliot, suggested that several aspects of life revolved around patterns of waves. This included the forex market. The euro and the US dollar are two very significant currencies in the global economy, and the trading of these as a currency pair is very popular. George Soros, for instance, is a billionaire forex trader who is famed for using the euro and US dollar currency pair.
Elliot waves can be used for these two currencies, and in recent weeks, the elliot wave theory demonstrates a downward trend for the EUR/USD currency pair.
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