Regarding the FX, my focus is on EURUSD as this one turned perfectly lower in five waves from 1.1568. It’s an impulse that show us direction of a trend; it’s down so more weakness will be expected after a bounce. I am waiting on three wave a)-b)-c) rise back to 1.1425 maybe even 1.1480 area which would be nice resistance area for this pair.
EURUSD is nicely trading lower, now breaking below the 1.142 bearish level which indicates a completed correction and a minimum three-wave drop in play. At the moment we see price unfolding wave i of C, which can look for support and a temporary corrective recovery near the Fibonacci projection zone of 261.8 and at the lower channel line.
$1 for a 20 Day Trial Membership to see all our fantastic Elliott Wave analysis for your self!
Forex EURUSD Elliott Wave, Forex EURUSD, EURUSD Elliott Wave, Forex, EURUSD, Elliott Wave,
Pete, I don’t know how you’re doing it but your ability to pick the fall of last night/this morning is impressive. Just wanted to say keep up the good work and looking forward to the latest ASX200 video! Cheers, Daniel B. VIC
Hi Peter, I have to say I am really happy with the practical and grounded accuracy of your updates. With the deluge of data and emotions in trading online it's nice to have the safe haven of your insightful daily updates! Regards. Rod M. NSW
Hi Peter, I have been a TradingLounge Member for only a short time, but I would like to say that I am very happy with what you are doing. A couple of Forex trades that I've done in the past few weeks have put me nicely in front. Thank you. Alan C. QLD
Hi Pete, I HAVE CHANGED from a person with very little experience or knowledge of the stock market a few months ago to pretty much being taught the essence of the market by a market guru (you). I call you Grand Master Pete. Lee M. WA
I will encourage my mate to become a member because it has helped me heaps, with all the educational help from Pete as well as the daily service and the seminar. It's all great, where do I stop? Great service at a great price! Thanks again Jason N. VIC
Get Your Trial
20 Days for $1