Here is another insight into the possible future movements of the EUR/USD. The basis of this idea is the extremely choppy price action from the high (red 4). The 3rd scenario from the last EUR/USD post is also possible, but the other two have been invalidated. Click here for Jamie's take on things. Either way it looks relatively safe to get long from here, with your stop at 1.210 but be careful price could fall in a C of B of 2 before heading higher.
I have been using Elliott Wave Theory for several years now and use it in combination with traditional technical analysis methods to assist me with my trading. My main focus is on currency analysis (FX) however I also analyze commodities and equity markets for their correlational importance. You can reach me on email at ewforex(at)gmail(dot)com.
N.B. Several people have questioned me about my terrible performance in February. Those losses were due to lack of money management skills, not bad analysis. See my early March postings for a more details about those problems, and what I have been doing to fix them.
What charting software is that? It looks nice. I would love to know. slaterthescot@gmail.com
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