Friday, March 22, 2013

EUR/USD ~ Elliott Wave Count ~ 22 March 2013

I usually don't count currencies because I find support and resistance levels much more useful for trading forex. But I got many requests via email so I think it's time to add the most important currency pairs to my list.

Let's start with the EUR/USD today:

The rally from 1.20ish to 1.37ish certainly looks like a corrective wave (three subwaves) so lower prices this year are likely.

I'll post a short-term count later.