Summary: I got some comments on the EUR call the other day of people that disagreed with our forecast thought the EUR was going to move down again rather than immediately up to the 1.2350 level. Both paths were possibilities and we slightly favored another correction after comparing the EUR with the CHF which tend to move opposite the EUR. We would like to see one more move lower on the EUR before moving up to the 1.2350 level. If we get our move lower we'd be looking for a trade up. The EUR currently trades at 1.2066. The GBP could be in it's next move up already however we favor one more immediate move downward to align with the EUR. The 1.7725 level is key. If we get our move down, it may complete overnight and the next move up should be powerful. The GBP currently trades at 1.7668. The CHF has had a nice move up from the 1.2714 low. Those who traded this move up were reward with 100+ pips of profit. We would like to see one more immediate move up here, then we are looking for a trade down at the end of this move. The CHF currently trades at 1.2820. Those who made the JPY trade near the 113.75 level should be happy today. We are favoring a continued move up on the JPY to the 115.44 level. The JPY needs to take out the 114.88 high to reduce the immediate bearish case. The JPY currently trades at 114.56. We have locked in profits on our CAD trade and are still looking for the 117.50 level. We've moved our stop up to the 1.1595 level. Hopefully, those who joined our web site were able to see our diagram and catch this trade. 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
