Elliott Wave Free Forex Signal

Currency Pair = EUR/USD

Time Frame = Daily for Medium term trades.

Signal = Pending Sell stop at 1.4600 area.

Target Profit at 1.4400 area.

Calculated Risk Level = around 2.3 ( High Risk)

Stop Loss at above 1.4680 area.

EUR/USD Elliott wave Analysis :-

EUR/USD has continue to extend its impulsive up to 261.8% of fibonacci expansion level.

That is one of our medium end target which has a critical point of reversal trend.

Last friday we witnesses Euro quickly retrace after a new high been reached at above 1.4740 area.That is the first sign for euro to make reversal trend.So we advice not to put any long position into an account at least for the moment where Euro at the highest point against US dollar.

One of the best strategy is to wait for another break of previous low at 1.4620/30 area.

Pending stop at 1.4600 area is one of the safest step to trade upcoming corrective waves.

You can refer to our latest EUR/USD Elliott Wave analysis to get an ideas of your forex trading :-

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This entry was posted on Sunday, November 11th, 2007 at 2:41 pm and is filed under Elliott Wave Signal EUR-USD.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.