Forex Daily Podcast

Our EUR trade got stopped out yesterday for a 20 pip loss. The EUR should be finished correcting and start trending down once again targeting the 1.1600 level and below. Short term it should correct yesterday's run down before moving lower. The EUR currently trades at 1.1867. The GBP moved exactly as we thought yesterday. Those of you who entered a trade up, should have been able to get 50 pips in a reasonably short amount of time. Hopefully, some of you turned around and sold the GBP. Currently either the correction is complete at 1.7590 or we are in wave b of a flat and the currency should run down to the 1.7523 level or slightly below before it's decision time. At this point the currency will either continue running lower or move impulsively up in wave c of a larger flat. If it moves up, look to trade down with a stop just above 1.7680. Let the trade get as close to this stop as possible. The GBP currently trades at 1.7569 The CHF should continue to run up. It may be in a correction for a bit as is the EUR and the GBP. The JPY ran up as we thought yesterday to the 117.35 level. With the currency at 117.21 right now you may consider trading down with a stop just above 117.31 level. we are getting to the right risk:reward levels to take the trade. We have been looking for another push down on the JPY, but since the correction got a bit complex, it's making the patterns unclear. The CAD ran up just as we thought yesterday. We were patient and got in at 1.1741. We moved our stop to 7 pips above the high and we are letting it run for a while. We dropped 1/2 our position at 1.1714 so we are break even on this trade in the worst case. I typically trade multiple lots so I can take profits along the way. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading

Our EUR trade got stopped out yesterday for a 20 pip loss. The EUR should be finished correcting and start trending down once again targeting the 1.1600 level and below. Short term it should correct yesterday's run down before moving lower. The EUR currently trades at 1.1867. The GBP moved exactly as we thought yesterday. Those of you who entered a trade up, should have been able to get 50 pips in a reasonably short amount of time. Hopefully, some of you turned around and sold the GBP. Currently either the correction is complete at 1.7590 or we are in wave b of a flat and the currency should run down to the 1.7523 level or slightly below before it's decision time. At this point the currency will either continue running lower or move impulsively up in wave c of a larger flat. If it moves up, look to trade down with a stop just above 1.7680. Let the trade get as close to this stop as possible. The GBP currently trades at 1.7569 The CHF should continue to run up. It may be in a correction for a bit as is the EUR and the GBP. The JPY ran up as we thought yesterday to the 117.35 level. With the currency at 117.21 right now you may consider trading down with a stop just above 117.31 level. we are getting to the right risk:reward levels to take the trade. We have been looking for another push down on the JPY, but since the correction got a bit complex, it's making the patterns unclear. The CAD ran up just as we thought yesterday. We were patient and got in at 1.1741. We moved our stop to 7 pips above the high and we are letting it run for a while. We dropped 1/2 our position at 1.1714 so we are break even on this trade in the worst case. I typically trade multiple lots so I can take profits along the way. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading

Our EUR trade got stopped out yesterday for a 20 pip loss. The EUR should be finished correcting and start trending down once again targeting the 1.1600 level and below. Short term it should correct yesterday's run down before moving lower. The EUR currently trades at 1.1867. The GBP moved exactly as we thought yesterday. Those of you who entered a trade up, should have been able to get 50 pips in a reasonably short amount of time. Hopefully, some of you turned around and sold the GBP. Currently either the correction is complete at 1.7590 or we are in wave b of a flat and the currency should run down to the 1.7523 level or slightly below before it's decision time. At this point the currency will either continue running lower or move impulsively up in wave c of a larger flat. If it moves up, look to trade down with a stop just above 1.7680. Let the trade get as close to this stop as possible. The GBP currently trades at 1.7569 The CHF should continue to run up. It may be in a correction for a bit as is the EUR and the GBP. The JPY ran up as we thought yesterday to the 117.35 level. With the currency at 117.21 right now you may consider trading down with a stop just above 117.31 level. we are getting to the right risk:reward levels to take the trade. We have been looking for another push down on the JPY, but since the correction got a bit complex, it's making the patterns unclear. The CAD ran up just as we thought yesterday. We were patient and got in at 1.1741. We moved our stop to 7 pips above the high and we are letting it run for a while. We dropped 1/2 our position at 1.1714 so we are break even on this trade in the worst case. I typically trade multiple lots so I can take profits along the way. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading

We've provided a potential 1100+ pips of profit since November. Donations are accepted at forex.podomatic.com. We still favor a move up on the EUR to 1.2100 level. Look for a pull-back to 1.1972 or below to enter. Stop at 1952, limit at 2072 giving a 1:5 risk:reward ratio. The EUR currently trades at 1.1989. Jury is still out on the GBP, we'd like to see it run up to match the EUR, but not sure it will. We think we are in wave c of an extended flat which would bring us up to 1.7650-1.7660 level. If this wave pulls back to below 1.7590 before running up much higher, aggressive traders may want to enter up with a stop below 1.7565. A chart is available on the web site. The GBP currently trades at 1.7607. The CHF looks like it wants to run down a little here. It currently trades at 1.2937. The JPY ran up to the 116.83 level so far and should have at least one more push higher. Once complete, we should be able to trade this down for wave 5. We added a chart to our web site to show our thoughts. The JPY currently trades at 116.58 The CAD has hit the 117.00 level and pulled back. We think finishes best with one more push up. This last push should be 36-60 ore more pips from the bottom of wave 4. If it pushes up this one last time, then trade it down with a 40 pip stop don't be too anxious to get in early. Hopefully it will go at least 60 pips. We've put a chart on our web site to show this expected move. Likewise if the currently does not move as planned then DO NOT ENTER this trade. The CAD currently trades at 1.1670. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading

We've provided a potential 1100+ pips of profit since November. Donations are accepted at forex.podomatic.com. We still favor a move up on the EUR to 1.2100 level. Look for a pull-back to 1.1972 or below to enter. Stop at 1952, limit at 2072 giving a 1:5 risk:reward ratio. The EUR currently trades at 1.1989. Jury is still out on the GBP, we'd like to see it run up to match the EUR, but not sure it will. We think we are in wave c of an extended flat which would bring us up to 1.7650-1.7660 level. If this wave pulls back to below 1.7590 before running up much higher, aggressive traders may want to enter up with a stop below 1.7565. A chart is available on the web site. The GBP currently trades at 1.7607. The CHF looks like it wants to run down a little here. It currently trades at 1.2937. The JPY ran up to the 116.83 level so far and should have at least one more push higher. Once complete, we should be able to trade this down for wave 5. We added a chart to our web site to show our thoughts. The JPY currently trades at 116.58 The CAD has hit the 117.00 level and pulled back. We think finishes best with one more push up. This last push should be 36-60 ore more pips from the bottom of wave 4. If it pushes up this one last time, then trade it down with a 40 pip stop don't be too anxious to get in early. Hopefully it will go at least 60 pips. We've put a chart on our web site to show this expected move. Likewise if the currently does not move as planned then DO NOT ENTER this trade. The CAD currently trades at 1.1670. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading

We've provided a potential 1100+ pips of profit since November. Donations are accepted at forex.podomatic.com. We still favor a move up on the EUR to 1.2100 level. Look for a pull-back to 1.1972 or below to enter. Stop at 1952, limit at 2072 giving a 1:5 risk:reward ratio. The EUR currently trades at 1.1989. Jury is still out on the GBP, we'd like to see it run up to match the EUR, but not sure it will. We think we are in wave c of an extended flat which would bring us up to 1.7650-1.7660 level. If this wave pulls back to below 1.7590 before running up much higher, aggressive traders may want to enter up with a stop below 1.7565. A chart is available on the web site. The GBP currently trades at 1.7607. The CHF looks like it wants to run down a little here. It currently trades at 1.2937. The JPY ran up to the 116.83 level so far and should have at least one more push higher. Once complete, we should be able to trade this down for wave 5. We added a chart to our web site to show our thoughts. The JPY currently trades at 116.58 The CAD has hit the 117.00 level and pulled back. We think finishes best with one more push up. This last push should be 36-60 ore more pips from the bottom of wave 4. If it pushes up this one last time, then trade it down with a 40 pip stop don't be too anxious to get in early. Hopefully it will go at least 60 pips. We've put a chart on our web site to show this expected move. Likewise if the currently does not move as planned then DO NOT ENTER this trade. The CAD currently trades at 1.1670. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading

We continue to favor a move up on the EUR to near the 1.2100 level. Once the run up is complete, it should turn down. The EUR ended the week at 1.2011. The GBP also should trade up to the 1.7800 level or slightly above. The GBP ended the week at 1.7720. The CHF ended the week at 1.2898. We hope to get a good count on this for tomorrow. We are having a debate interally here if we are currently in a correction (ie moving up) or have finished the correction and are moving down on the USD/JPY. If we rise above 115.70 before going much lower we think we are correcting immediately to the 117-119 level. Otherwise, we are running down to the 114 or a bit lower levelbefore entering into the correction up. The CAD has been correcting upwards and currently trades at 1.1591. We expect this correction to continue a bit further.

We continue to favor a move up on the EUR to near the 1.2100 level. Once the run up is complete, it should turn down. The EUR ended the week at 1.2011. The GBP also should trade up to the 1.7800 level or slightly above. The GBP ended the week at 1.7720. The CHF ended the week at 1.2898. We hope to get a good count on this for tomorrow. We are having a debate interally here if we are currently in a correction (ie moving up) or have finished the correction and are moving down on the USD/JPY. If we rise above 115.70 before going much lower we think we are correcting immediately to the 117-119 level. Otherwise, we are running down to the 114 or a bit lower levelbefore entering into the correction up. The CAD has been correcting upwards and currently trades at 1.1591. We expect this correction to continue a bit further.

We continue to favor a move up on the EUR to near the 1.2100 level. Once the run up is complete, it should turn down. The EUR ended the week at 1.2011. The GBP also should trade up to the 1.7800 level or slightly above. The GBP ended the week at 1.7720. The CHF ended the week at 1.2898. We hope to get a good count on this for tomorrow. We are having a debate interally here if we are currently in a correction (ie moving up) or have finished the correction and are moving down on the USD/JPY. If we rise above 115.70 before going much lower we think we are correcting immediately to the 117-119 level. Otherwise, we are running down to the 114 or a bit lower levelbefore entering into the correction up. The CAD has been correcting upwards and currently trades at 1.1591. We expect this correction to continue a bit further.

Over the past month and 1/2 we've been able to count more than 1100 pips that you could have caught based on our podcasts. That's 1100 pips. Because we think we've proved our value to this community we've started accepting donations. If our podcasts have helped you make successful trades we ask that you consider giving some back. We want you to win, and we think it's ok to share in your success if we've contributed to it. Likewise, if we haven't contributed to your success please don't feel obligated. We only want to win when you win. There is a PayPal Donation button on the top right part of the page at forex.podomatic.com. We think the EUR and GBP have a bit more to rise, hopefully they become our trade favorites for next week. The EUR has been trading sideways for the past day and currently trades at 1.1982. We are still favoring a slight move up on the EUR. The GBP has been running sideways for the past day and is currently at 1.7687. The CHF has also been moving mostly sideways and trades at 1.2900. We're loving that JPY, It moved just like we thought yesterday. Now the question becomes did that complete the move down or do we have one more move down left? Becuase the run down yesterday looks more to me like a 3 wave than a 5 five, I'm favoring one more move down. This current run up on the JPY has to end in a 5 wave (wave c) for this interpretation to be correct. So we will watch as the pattern unfolds today. The JPY currently trades at 116.15. The CAD has been trading sideways and is at 1.1568.

Over the past month and 1/2 we've been able to count more than 1100 pips that you could have caught based on our podcasts. That's 1100 pips. Because we think we've proved our value to this community we've started accepting donations. If our podcasts have helped you make successful trades we ask that you consider giving some back. We want you to win, and we think it's ok to share in your success if we've contributed to it. Likewise, if we haven't contributed to your success please don't feel obligated. We only want to win when you win. There is a PayPal Donation button on the top right part of the page at forex.podomatic.com. We think the EUR and GBP have a bit more to rise, hopefully they become our trade favorites for next week. The EUR has been trading sideways for the past day and currently trades at 1.1982. We are still favoring a slight move up on the EUR. The GBP has been running sideways for the past day and is currently at 1.7687. The CHF has also been moving mostly sideways and trades at 1.2900. We're loving that JPY, It moved just like we thought yesterday. Now the question becomes did that complete the move down or do we have one more move down left? Becuase the run down yesterday looks more to me like a 3 wave than a 5 five, I'm favoring one more move down. This current run up on the JPY has to end in a 5 wave (wave c) for this interpretation to be correct. So we will watch as the pattern unfolds today. The JPY currently trades at 116.15. The CAD has been trading sideways and is at 1.1568.

Over the past month and 1/2 we've been able to count more than 1100 pips that you could have caught based on our podcasts. That's 1100 pips. Because we think we've proved our value to this community we've started accepting donations. If our podcasts have helped you make successful trades we ask that you consider giving some back. We want you to win, and we think it's ok to share in your success if we've contributed to it. Likewise, if we haven't contributed to your success please don't feel obligated. We only want to win when you win. There is a PayPal Donation button on the top right part of the page at forex.podomatic.com. We think the EUR and GBP have a bit more to rise, hopefully they become our trade favorites for next week. The EUR has been trading sideways for the past day and currently trades at 1.1982. We are still favoring a slight move up on the EUR. The GBP has been running sideways for the past day and is currently at 1.7687. The CHF has also been moving mostly sideways and trades at 1.2900. We're loving that JPY, It moved just like we thought yesterday. Now the question becomes did that complete the move down or do we have one more move down left? Becuase the run down yesterday looks more to me like a 3 wave than a 5 five, I'm favoring one more move down. This current run up on the JPY has to end in a 5 wave (wave c) for this interpretation to be correct. So we will watch as the pattern unfolds today. The JPY currently trades at 116.15. The CAD has been trading sideways and is at 1.1568.

The EUR got back to 1.1977 as we thought yesterday, but hasn't done much since. We expect it to rise at least a bit more here, hopefully the patterns will become clearer in the next few days. We are on the sidelines for now. The EUR trades at 1.2013. The GBP has been running sideways for the past day and is currently at 1.7730. The CHF has also been moving sideways, so much so that when I saw the chart this morning I thought one of my kids was scribbling on it. We still expect it to run lower. It trades at 1.2831. The JPY rose right to our minimum level for a retracement yesterday before running down. It rose just above the 236 FIB line before continuing to run down. We hope some of you got into a trade at these levels. We've posted an alternative count on the web site today. We think that we've seen a complete wave 3 and we have one more correction before the final fall. We are likely in a small flat or extended flat here meaning the JPY should fall to the 1.1583 low or slightly lower before moving up to the 116.30 - 117.00 level. Then it should maike it's final fall for wave 5. Caution is in order on this trade. We don't have a good backstop according to Elliott Principles so the risk/reward may not be as attractive given the huge move this week on the JPY. The JPY current trades at 116.08 The CAD rose a bit more than we though yesterday so we are waiting for more time to be able to determine the current pattern. The CAD currently trades at 1.1568. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading

The EUR got back to 1.1977 as we thought yesterday, but hasn't done much since. We expect it to rise at least a bit more here, hopefully the patterns will become clearer in the next few days. We are on the sidelines for now. The EUR trades at 1.2013. The GBP has been running sideways for the past day and is currently at 1.7730. The CHF has also been moving sideways, so much so that when I saw the chart this morning I thought one of my kids was scribbling on it. We still expect it to run lower. It trades at 1.2831. The JPY rose right to our minimum level for a retracement yesterday before running down. It rose just above the 236 FIB line before continuing to run down. We hope some of you got into a trade at these levels. We've posted an alternative count on the web site today. We think that we've seen a complete wave 3 and we have one more correction before the final fall. We are likely in a small flat or extended flat here meaning the JPY should fall to the 1.1583 low or slightly lower before moving up to the 116.30 - 117.00 level. Then it should maike it's final fall for wave 5. Caution is in order on this trade. We don't have a good backstop according to Elliott Principles so the risk/reward may not be as attractive given the huge move this week on the JPY. The JPY current trades at 116.08 The CAD rose a bit more than we though yesterday so we are waiting for more time to be able to determine the current pattern. The CAD currently trades at 1.1568. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading

The EUR got back to 1.1977 as we thought yesterday, but hasn't done much since. We expect it to rise at least a bit more here, hopefully the patterns will become clearer in the next few days. We are on the sidelines for now. The EUR trades at 1.2013. The GBP has been running sideways for the past day and is currently at 1.7730. The CHF has also been moving sideways, so much so that when I saw the chart this morning I thought one of my kids was scribbling on it. We still expect it to run lower. It trades at 1.2831. The JPY rose right to our minimum level for a retracement yesterday before running down. It rose just above the 236 FIB line before continuing to run down. We hope some of you got into a trade at these levels. We've posted an alternative count on the web site today. We think that we've seen a complete wave 3 and we have one more correction before the final fall. We are likely in a small flat or extended flat here meaning the JPY should fall to the 1.1583 low or slightly lower before moving up to the 116.30 - 117.00 level. Then it should maike it's final fall for wave 5. Caution is in order on this trade. We don't have a good backstop according to Elliott Principles so the risk/reward may not be as attractive given the huge move this week on the JPY. The JPY current trades at 116.08 The CAD rose a bit more than we though yesterday so we are waiting for more time to be able to determine the current pattern. The CAD currently trades at 1.1568. Forex Currency trading is very risky, please read the disclaimer on our web site. Visit us on the web at www.elliottexchange.com or at forex.podomatic.com. Good Luck and Good Trading