Forex Daily Podcast

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Forex Daily Podcast - Thursday, March 2, 2006

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March 02, 2006 05:19 AM PST

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

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Podcast Summary

Our daily Forex podcast provides a roundup of the currencies and insight into the future. We discuss specific currencies as well as trading tactics and techniques to make your trades more successful. Brought to you by ElliottExchange at www.elliottexchange.com.