By: EWI
8-minute video by EWI's Currency Specialty Service editor shows you how the Elliott wave concept of "waves within waves" allows you to find both the short- AND long-term trends.
In mid-July, AUD/USD, the exchange rate between the U.S. and Australian dollar (and a popular forex pair) was trading near 1.0100.
But Elliott wave analysis told EWI's Currency Specialty Service editor, Jim Martens, to expect a big rally: all the way to 1.05, at least.
Three weeks later, AUD/USD indeed rose to that target -- and then some. On August 7, AUD/USD hit a high of 1.0600 -- a 400-pip rally.
There is a lot more to this story.
Watch the entire 8-minute video Jim Martens recorded for his subscribers on July 13. It's a great lesson in using Elliott to find multiple trading opportunities at various degrees of trend.
The video also gives you a taste of the kind of analysis you get 100% free for 7 days, starting on October 17, during our special event for currency traders: Forex FreeWeek.
Join EWI's Forex FreeWeek now >>
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EWI's Forex FreeWeek Is Live Starts: Noon Eastern time Wednesday, Oct. 17 Get 7 full days of total access to EWI's forex forecasts for trading opportunities in 11 most-traded currency pairs -- 100% FREE! Join FreeWeek now and instantly watch another great learning video by Jim Martens >> |
This article was syndicated by Elliott Wave International and was originally published under the headline (VIDEO) AUD/USD: "Look to the 1.05 Area...". EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.
About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.
? 2005-2012 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.
Source: http://www.marketoracle.co.uk/Article37082.html
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