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Forex (Video): Wave Patterns Predicted Current U.S. Dollar Weakness
A good example of Elliott wave analysis in action.

By Vadim Pokhlebkin
Tue, 19 May 2009 14:30:00 ET
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Since early May, the U.S. dollar has been losing to its main "competitor," the euro. Trying to find the reason for the weakness, conventional forex analysts have been citing anything from rumors that Brazil and China may shift away from the dollar to a reduced demand for the buck as a "safe haven."
 
As most "fundamental" explanations, these ones sound perfectly reasonable -- after the fact. But they tell you nothing about where the USD may go next. For that, you may want to try Elliott wave analysis.
 
Here's a good example. Watch this free 2-minute video alert that Jim Martens, editor of EWI's intensive Currency Specialty Service, recorded on May 8, forecasting the current U.S. dollar weakness before it occurred.
 
NOTE: You need a free Club EWI password to watch.

Tags: u.s. dollar, euro, brazil, china, forex, Currencies

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The Elliott Wave Principle is a detailed description of how financial markets behave. The description reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific Elliott wave patterns in price movements. Each pattern has implications regarding the position of the market within its overall progression, past, present and future. The purpose of Elliott Wave International’s market-oriented publications is to outline the progress of markets in terms of the Wave Principle and to educate interested parties in the successful application of the Wave Principle. While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will Elliott Wave International make specific recommendations for any specific person, and at no time may a reader, caller or viewer be justified in inferring that any such advice is intended. Investing carries risk of losses, and trading futures or options is especially risky because these instruments are highly leveraged, and traders can lose more than their initial margin funds. Information provided by Elliott Wave International is expressed in good faith, but it is not guaranteed. The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities. Please ask your broker or your advisor to explain all risks to you before making any trading and investing decisions.