Tuesday, August 07, 2012

EURUSD Doing the Dead Cat Bounce

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.

EUR/USD is Just 1 of 5 Top Current Forex Opportunities -- See Them Now

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

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