Since August 2, EUR/USD, the forex pair that makes up the bulk of the $4-trillion-a-day global currency trading turnover, has gained almost 300 points (or pips, in forex lingo).
Analysts say that last Friday's dubious U.S. jobs numbers and the European Central Bank's euro-supportive talk have helped the rally. Sounds logical, but if you actually trade forex, neither of these explanations tells you what EUR/USD may do tomorrow.
You know what can help you get the answer? Elliott wave analysis.
Right now, the Elliott wave message for EUR/USD is: caution! In fact, the editor of our trader-focused Currency Specialty Service, Jim Martens, has posted for subscribers a video update titled "EUR/USD -- Don't Be Fooled by This Rally."
You can watch the video inside the Service online now, but just to give you a glimpse of the evidence -- EUR/USD is showing an almost completed 5-wave rally pattern:
And that's just the half of it.
To really understand where EUR/USD is likely headed next in a big way, you need to see its larger-degree Elliott wave pattern.
Currency Specialty Service shows you the EUR's big picture, too.
In addition to EWI Senior Currency Strategist Jim Martens' new video "EUR/USD -- Don't Be Fooled by This Rally," you get 5 more detailed videos describing the top 5 forex opportunities Jim sees in the markets right now:
Opportunity #1: AUD/USD - 12-minute video
Opportunity #2: EUR/USD - 7 minutes
Opportunity #3: USD/CAD - 9 minutes
Opportunity #4: USD/JPY - 8 minutes
Opportunity #5: GBP/USD - 17 minutes