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"EUR/USD -- Don't Be Fooled by This Rally"
The euro just hit a one-month high against the U.S dollar. But, says EWI's Jim Martens, the bulls may need to curb their enthusiasm soon.
By Vadim Pokhlebkin
Mon, 06 Aug 2012 17:45:00 ET
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Since August 2, EUR/USD, the forex pair that makes up the bulk of the $4-trillion-a-day global currency trading turnover, has gained almost 300 points (or pips, in forex lingo).

Analysts say that last Friday's dubious U.S. jobs numbers and the European Central Bank's euro-supportive talk have helped the rally. Sounds logical, but if you actually trade forex, neither of these explanations tells you what EUR/USD may do tomorrow.
 
You know what can help you get the answer? Elliott wave analysis.
 
Right now, the Elliott wave message for EUR/USD is: caution! In fact, the editor of our trader-focused Currency Specialty Service, Jim Martens, has posted for subscribers a video update titled "EUR/USD -- Don't Be Fooled by This Rally."
 
You can watch the video inside the Service online now, but just to give you a glimpse of the evidence -- EUR/USD is showing an almost completed 5-wave rally pattern:
 
 
And that's just the half of it.
 
To really understand where EUR/USD is likely headed next in a big way, you need to see its larger-degree Elliott wave pattern.
 
Currency Specialty Service shows you the EUR's big picture, too.

 
 
 
In addition to EWI Senior Currency Strategist Jim Martens' new video "EUR/USD -- Don't Be Fooled by This Rally," you get 5 more detailed videos describing the top 5 forex opportunities Jim sees in the markets right now:
 
Opportunity #1: AUD/USD - 12-minute video
Opportunity #2: EUR/USD - 7 minutes
Opportunity #3: USD/CAD - 9 minutes
Opportunity #4: USD/JPY - 8 minutes
Opportunity #5: GBP/USD - 17 minutes

SPECIAL OFFER: Watch all 5 top-forex opportunity videos -- and more -- now. DETAILS >>

 

 

 

 

Tags: Elliott wave, Elliott Wave trading, euro, european central bank, forex, forex trading, online trading, technical analysis, technical indicators, trading lessons, U.S. dollar
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