Forex Daily Podcast

Kind of ugly corrective patterns on the currencies in the past day. We are hoping that the patterns become clearer today. We continue to favor a stronger USD across the board overall, although we may be stuck in a range for the next day or two. We expect the EUR to move lower once this correction is complete, but it's just been ugly for the past day. The EUR currently trades at 1.1927. The GBP should be moving to the 1.7200 level and below although it's undecided if it wants to run higher here or just be stuck in a range. The GBP currently trades at 1.7389. The CHF may have completed it's correction at 1.3060 and started it's next move up. It needs to gain some speed if that is true. The CHF currently trades at 1.3103. Although the JPY pushed up into our target area yesterday, this uptrend is not complete. You've got a high probability trade setup on an up trade with a stop just below 117.08. Alternatively, If the JPY drops below this level then this correction is a zig-zag which is a 5 wave move down which should be complete at 117.08 followed by a 3 wave move up to the 117.80 level followed by another 5 wave move down. Trade up on completion of the zig-zag. The JPY currently trades at 117.20. The CAD has had a nice run up and is taking a breather. There may be a down trade near the 1.1580 level. Look for Divergence on the RSI indicator if the currency runs back to this level in the next day. Targets on the downside would be 1.1470 and 1.1410. The CAD currently trades at 1.1550. 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

Kind of ugly corrective patterns on the currencies in the past day. We are hoping that the patterns become clearer today. We continue to favor a stronger USD across the board overall, although we may be stuck in a range for the next day or two. We expect the EUR to move lower once this correction is complete, but it's just been ugly for the past day. The EUR currently trades at 1.1927. The GBP should be moving to the 1.7200 level and below although it's undecided if it wants to run higher here or just be stuck in a range. The GBP currently trades at 1.7389. The CHF may have completed it's correction at 1.3060 and started it's next move up. It needs to gain some speed if that is true. The CHF currently trades at 1.3103. Although the JPY pushed up into our target area yesterday, this uptrend is not complete. You've got a high probability trade setup on an up trade with a stop just below 117.08. Alternatively, If the JPY drops below this level then this correction is a zig-zag which is a 5 wave move down which should be complete at 117.08 followed by a 3 wave move up to the 117.80 level followed by another 5 wave move down. Trade up on completion of the zig-zag. The JPY currently trades at 117.20. The CAD has had a nice run up and is taking a breather. There may be a down trade near the 1.1580 level. Look for Divergence on the RSI indicator if the currency runs back to this level in the next day. Targets on the downside would be 1.1470 and 1.1410. The CAD currently trades at 1.1550. 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

Kind of ugly corrective patterns on the currencies in the past day. We are hoping that the patterns become clearer today. We continue to favor a stronger USD across the board overall, although we may be stuck in a range for the next day or two. We expect the EUR to move lower once this correction is complete, but it's just been ugly for the past day. The EUR currently trades at 1.1927. The GBP should be moving to the 1.7200 level and below although it's undecided if it wants to run higher here or just be stuck in a range. The GBP currently trades at 1.7389. The CHF may have completed it's correction at 1.3060 and started it's next move up. It needs to gain some speed if that is true. The CHF currently trades at 1.3103. Although the JPY pushed up into our target area yesterday, this uptrend is not complete. You've got a high probability trade setup on an up trade with a stop just below 117.08. Alternatively, If the JPY drops below this level then this correction is a zig-zag which is a 5 wave move down which should be complete at 117.08 followed by a 3 wave move up to the 117.80 level followed by another 5 wave move down. Trade up on completion of the zig-zag. The JPY currently trades at 117.20. The CAD has had a nice run up and is taking a breather. There may be a down trade near the 1.1580 level. Look for Divergence on the RSI indicator if the currency runs back to this level in the next day. Targets on the downside would be 1.1470 and 1.1410. The CAD currently trades at 1.1550. 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

Although our high probability trade setups failed on the EUR and the CHF once they broke though their respective key levels you should have been able to reverse your trade and make your profits back and then some. The EUR is finally taking a bit of a breather after it's strong move down over the past few days. This could be the start of it's move to 1.1650 and below. We are looking for the EUR to have at least one more push lower of 70-110 pips after it finishes this correction. At 1.1940 this correction is potentially complete. The EUR currently trades at 1.1927. The GBP should be moving to the 1.7200 level and below. Our longer term target remains near 1.6500 for the GBP. The GBP trades at 1.7400. The CHF likewise should push higher once this correction down is complete. The CHF currently trades at 1.3085 Our next target up on the JPY is 118.30. The JPY could be entering a more complex correction which would bring it lower from current levels before resuming it's uptrend. The JPY currently trades at 117.85 The CAD just dipped below our longer term target of 1.1300 and below and has been making a nice move upwards. At this point we should be very near at least a 60 pip pullback. With the strength of this move up, we are wondering if the longer term run down is over? The CAD currently trades at 1.1511. 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

Although our high probability trade setups failed on the EUR and the CHF once they broke though their respective key levels you should have been able to reverse your trade and make your profits back and then some. The EUR is finally taking a bit of a breather after it's strong move down over the past few days. This could be the start of it's move to 1.1650 and below. We are looking for the EUR to have at least one more push lower of 70-110 pips after it finishes this correction. At 1.1940 this correction is potentially complete. The EUR currently trades at 1.1927. The GBP should be moving to the 1.7200 level and below. Our longer term target remains near 1.6500 for the GBP. The GBP trades at 1.7400. The CHF likewise should push higher once this correction down is complete. The CHF currently trades at 1.3085 Our next target up on the JPY is 118.30. The JPY could be entering a more complex correction which would bring it lower from current levels before resuming it's uptrend. The JPY currently trades at 117.85 The CAD just dipped below our longer term target of 1.1300 and below and has been making a nice move upwards. At this point we should be very near at least a 60 pip pullback. With the strength of this move up, we are wondering if the longer term run down is over? The CAD currently trades at 1.1511. 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

Although our high probability trade setups failed on the EUR and the CHF once they broke though their respective key levels you should have been able to reverse your trade and make your profits back and then some. The EUR is finally taking a bit of a breather after it's strong move down over the past few days. This could be the start of it's move to 1.1650 and below. We are looking for the EUR to have at least one more push lower of 70-110 pips after it finishes this correction. At 1.1940 this correction is potentially complete. The EUR currently trades at 1.1927. The GBP should be moving to the 1.7200 level and below. Our longer term target remains near 1.6500 for the GBP. The GBP trades at 1.7400. The CHF likewise should push higher once this correction down is complete. The CHF currently trades at 1.3085 Our next target up on the JPY is 118.30. The JPY could be entering a more complex correction which would bring it lower from current levels before resuming it's uptrend. The JPY currently trades at 117.85 The CAD just dipped below our longer term target of 1.1300 and below and has been making a nice move upwards. At this point we should be very near at least a 60 pip pullback. With the strength of this move up, we are wondering if the longer term run down is over? The CAD currently trades at 1.1511. 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

Friday we saw corrections on the EUR and the CHF and a high probability trade setup on the GBP. We still cannot reconcile the counts on the GBP and the EUR which is odd so we still have some caution on trading the GBP. The JPY's trade setup did not come until overnight where it provided a nice trade entry up. I wanted to remind everyone that you can subscribe to receive an email whenever we publish a new podcast by signing up for it at forex.podomatic.com. Click on the 'Add yourself to my mailing list' link, it's very simple. Also, if we've helped you enter profitable trades we accept donations at forex.podomatic.com. Today provides a couple of different alternative interpretations each leading to different trade setups. The key level for the EUR is 1.1975. If this level is broken then a move down has started with stops above the previous high. I think you can get an entry much closer to the previous high, but breaking this level is the trigger. I think there may be one more move up to near the 1.2140 level. An ideal trade would be with an entry within 20-30 pips of the 1.1975 level so you can get a stop just behind this critical point. If we get a final move up look for a reversal upon completion. The EUR trades at 1.2032. The GBP should follow the EUR with an upward target near 1.7700 level. The GBP trades at 1.7554 The CHF should move opposite the EUR, it's critical level is 1.3037. If it breaks above this level the currency will be moving higher. Likewise, look for a high probability entry with a stop loss just above this level . The CHF trades at 1.2968. The JPY looks like it has nearly traced out a 5 wave move up and should have one more push up to the 117.40 level before entering into a correction. The JPY trades at 117.20 The CAD seems to be tracing out some kind of a flat. If it falls near the previous low, it might provide a nice trade up. The CAD currently trades at 1.1360. 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

Friday we saw corrections on the EUR and the CHF and a high probability trade setup on the GBP. We still cannot reconcile the counts on the GBP and the EUR which is odd so we still have some caution on trading the GBP. The JPY's trade setup did not come until overnight where it provided a nice trade entry up. I wanted to remind everyone that you can subscribe to receive an email whenever we publish a new podcast by signing up for it at forex.podomatic.com. Click on the 'Add yourself to my mailing list' link, it's very simple. Also, if we've helped you enter profitable trades we accept donations at forex.podomatic.com. Today provides a couple of different alternative interpretations each leading to different trade setups. The key level for the EUR is 1.1975. If this level is broken then a move down has started with stops above the previous high. I think you can get an entry much closer to the previous high, but breaking this level is the trigger. I think there may be one more move up to near the 1.2140 level. An ideal trade would be with an entry within 20-30 pips of the 1.1975 level so you can get a stop just behind this critical point. If we get a final move up look for a reversal upon completion. The EUR trades at 1.2032. The GBP should follow the EUR with an upward target near 1.7700 level. The GBP trades at 1.7554 The CHF should move opposite the EUR, it's critical level is 1.3037. If it breaks above this level the currency will be moving higher. Likewise, look for a high probability entry with a stop loss just above this level . The CHF trades at 1.2968. The JPY looks like it has nearly traced out a 5 wave move up and should have one more push up to the 117.40 level before entering into a correction. The JPY trades at 117.20 The CAD seems to be tracing out some kind of a flat. If it falls near the previous low, it might provide a nice trade up. The CAD currently trades at 1.1360. 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

Friday we saw corrections on the EUR and the CHF and a high probability trade setup on the GBP. We still cannot reconcile the counts on the GBP and the EUR which is odd so we still have some caution on trading the GBP. The JPY's trade setup did not come until overnight where it provided a nice trade entry up. I wanted to remind everyone that you can subscribe to receive an email whenever we publish a new podcast by signing up for it at forex.podomatic.com. Click on the 'Add yourself to my mailing list' link, it's very simple. Also, if we've helped you enter profitable trades we accept donations at forex.podomatic.com. Today provides a couple of different alternative interpretations each leading to different trade setups. The key level for the EUR is 1.1975. If this level is broken then a move down has started with stops above the previous high. I think you can get an entry much closer to the previous high, but breaking this level is the trigger. I think there may be one more move up to near the 1.2140 level. An ideal trade would be with an entry within 20-30 pips of the 1.1975 level so you can get a stop just behind this critical point. If we get a final move up look for a reversal upon completion. The EUR trades at 1.2032. The GBP should follow the EUR with an upward target near 1.7700 level. The GBP trades at 1.7554 The CHF should move opposite the EUR, it's critical level is 1.3037. If it breaks above this level the currency will be moving higher. Likewise, look for a high probability entry with a stop loss just above this level . The CHF trades at 1.2968. The JPY looks like it has nearly traced out a 5 wave move up and should have one more push up to the 117.40 level before entering into a correction. The JPY trades at 117.20 The CAD seems to be tracing out some kind of a flat. If it falls near the previous low, it might provide a nice trade up. The CAD currently trades at 1.1360. 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

If you were patient yesterday you were rewarded. As soon at the EUR cleared the previous days high of 1.1975 it was time to trade up on the EUR, up on the GBP, and down on the CHF. The times to be aggressive in the market is when you are almost 100% certain that something is going to happen as we were at this event yesterday. Aggressive traders could have made money in both directions, but you had to be quick and have nerves of steel. Today we would like to EUR to run up to 1.2070, the CHF to run down to 1.2920. The GBP is the wild card, it seems to have a different Elliott count than the EUR which is odd. If it breaks above 1.7593 then it really throws our counts off. Because it differs so greatly from the EUR it gives us extra caution on this move. We are looking for the currencies to reverse near these levels provided the've traced out a 5th wave. However, 5th waves can extend so you may not want to get too aggressive looking for reversals. The EUR trades at 1.2022. The GBP trades at 1.7553 The CHF trades at 1.2995. We got a nice run down on the JPY yesterday providing a trade entry up and should get a similar setup today. The JPY trades at 116.37 The CAD looks to be in a correction, we should see another push down this morning and then it should run up. The CAD trades at 1.1327. 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

If you were patient yesterday you were rewarded. As soon at the EUR cleared the previous days high of 1.1975 it was time to trade up on the EUR, up on the GBP, and down on the CHF. The times to be aggressive in the market is when you are almost 100% certain that something is going to happen as we were at this event yesterday. Aggressive traders could have made money in both directions, but you had to be quick and have nerves of steel. Today we would like to EUR to run up to 1.2070, the CHF to run down to 1.2920. The GBP is the wild card, it seems to have a different Elliott count than the EUR which is odd. If it breaks above 1.7593 then it really throws our counts off. Because it differs so greatly from the EUR it gives us extra caution on this move. We are looking for the currencies to reverse near these levels provided the've traced out a 5th wave. However, 5th waves can extend so you may not want to get too aggressive looking for reversals. The EUR trades at 1.2022. The GBP trades at 1.7553 The CHF trades at 1.2995. We got a nice run down on the JPY yesterday providing a trade entry up and should get a similar setup today. The JPY trades at 116.37 The CAD looks to be in a correction, we should see another push down this morning and then it should run up. The CAD trades at 1.1327. 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

If you were patient yesterday you were rewarded. As soon at the EUR cleared the previous days high of 1.1975 it was time to trade up on the EUR, up on the GBP, and down on the CHF. The times to be aggressive in the market is when you are almost 100% certain that something is going to happen as we were at this event yesterday. Aggressive traders could have made money in both directions, but you had to be quick and have nerves of steel. Today we would like to EUR to run up to 1.2070, the CHF to run down to 1.2920. The GBP is the wild card, it seems to have a different Elliott count than the EUR which is odd. If it breaks above 1.7593 then it really throws our counts off. Because it differs so greatly from the EUR it gives us extra caution on this move. We are looking for the currencies to reverse near these levels provided the've traced out a 5th wave. However, 5th waves can extend so you may not want to get too aggressive looking for reversals. The EUR trades at 1.2022. The GBP trades at 1.7553 The CHF trades at 1.2995. We got a nice run down on the JPY yesterday providing a trade entry up and should get a similar setup today. The JPY trades at 116.37 The CAD looks to be in a correction, we should see another push down this morning and then it should run up. The CAD trades at 1.1327. 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

Yesterdays strong move down on the EUR likely indicates the start of a new move down. However, it has not yet travelled far enough to confirm that. If this move down has begun then the currency will not rise above yesterday's high. If the EUR does travel above yesterday's high then it should travel to about 1.2030 before reversing. If the EUR down move is starting it should travel below 1.1650. The GBP should move like the EUR and the CHF in the opposite direction. The EUR trades at 1.1930. The GBP trades at 1.7460 The CHF trades at 1.3110. The wave pattern on the JPY looks corrective, therefore we are expecting another move down on the JPY. The JPY trades at 116.25 The CAD trades at 1.1340 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

Yesterdays strong move down on the EUR likely indicates the start of a new move down. However, it has not yet travelled far enough to confirm that. If this move down has begun then the currency will not rise above yesterday's high. If the EUR does travel above yesterday's high then it should travel to about 1.2030 before reversing. If the EUR down move is starting it should travel below 1.1650. The GBP should move like the EUR and the CHF in the opposite direction. The EUR trades at 1.1930. The GBP trades at 1.7460 The CHF trades at 1.3110. The wave pattern on the JPY looks corrective, therefore we are expecting another move down on the JPY. The JPY trades at 116.25 The CAD trades at 1.1340 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

Yesterdays strong move down on the EUR likely indicates the start of a new move down. However, it has not yet travelled far enough to confirm that. If this move down has begun then the currency will not rise above yesterday's high. If the EUR does travel above yesterday's high then it should travel to about 1.2030 before reversing. If the EUR down move is starting it should travel below 1.1650. The GBP should move like the EUR and the CHF in the opposite direction. The EUR trades at 1.1930. The GBP trades at 1.7460 The CHF trades at 1.3110. The wave pattern on the JPY looks corrective, therefore we are expecting another move down on the JPY. The JPY trades at 116.25 The CAD trades at 1.1340 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