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. For more detailed forecast, sign up for a subscription to our newsletter at http://www.elliottexchange.com/
We ended up with a great week with our targets on the EUR/USD and GBP/USD being hit on Thursday and Friday. For the coming week all eyes are on the Fed. The announcements from the FOMC meeting on Tuesday may keep the market quiet for the first part of the week.
The EUR/USD and GBP/USD turned very near our expected levels and ran down 100 and 150 pips respectively. Todays' podcast tries to answer where we go next. You can also find more in depth analysis by becoming a subscriber to our Forex Forecast service available at the elliott exchange web site. http://www.elliottexchange.com/