Forex Daily Podcast Elliott Exchange

The EUR/USD and GBP/USD turned according to our forecast to start the week. Now, we are likely entering into a period of more complex consolidation unless we get a strong move towards a weaker USD.

The move towards a weaker US Dollar has been nothing short of spectacular. The good news is it's not yet complete. Tune it to find out.

A Strong Move towards a Weaker US Dollar

Last week we saw a breakout of our summer long consolidation and a move higher. This week we should see some profit taking and consolidation of this strong move.

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Look for the US announcements this morning to drive the direction of the markets for the next few days.

We have a very promising week starting in the currencies. There are exciting forecasts on the EUR/USD, GBP/USD, and USD/JPY today.

The existing homes sales annoucement drove the market today as expected. Tomorrow we have initial claims and new home sales on top. Look for more volatility surrounding these annoucements