Forex Daily Podcast

Daily Forex Trading Forecasts, Tips, and Strategies from ElliottExchange.com

Forex Daily Podcast for Monday, November 6, 2006

Send to Friends | Leave a Comment | Permalink

November 06, 2006 12:42 AM PST

We are looking for sideways action for the next few days on both the EUR/USD and GBP/USD. With no major annoucements planned and the US elections on Tuesday, look for a tentative mood in the markets. Near terms we are looking for continued USD strength. This should move the EUR/USD lower to the 1.2600 level and the GBP/USD to the 1.8800 level. Further out we see and end to the sideways market we've been experiencing for most of the summer. This should lead to the start of a 400+ pip move on the EUR/USD and a 600+ pip move on the GBP/USD.

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.