By Elliott Wave International
How do you know what "your" forex market will do tomorrow?
You don't. We don't. Nobody does. All anyone can do is guess. But some guesses are more "educated" than others.
In a recent interview, Elliott Wave International's Senior Currency Strategist, Jim Martens, explained why for the past almost 30 years his favorite method to "guess" at the market's trend has been Elliott wave analysis:
"Markets are doing what they are supposed to be doing: inflicting the most pain on the most number of people. Markets fool the most number of people at the most unexpected moments, but by tracking Elliott wave patterns, sentiment (and the news) you can prepare yourself.
"What separates Elliott wave fans from the rest of the public is that the public has no basis for determining when the trend may be over."
Let's take a look at a recent example: namely, price action in EURUSD on April 5-7.
Since the mid-March low in EURUSD, Jim and his Currency Pro Service team have been tracking a "messy" Elliott wave pattern in the euro-dollar: a correction. "Messy," because corrections are just that: choppy, overlapping, often directionless moments when it's just plain hard to make heads or tails. Continue reading "EURUSD: Why Recent Ups and Downs Are NOT Random"