Let’s hold off on that for right now. Although the overall sentiment remains bearish, it seems we’re potentially in a Wave 5 movement down.
Some Elliott Wave traders love 5th waves while others don’t. Be sure to trade with caution with 5th waves because they can be truncated so it may not go down as far as some may predict they will.
It appears we’re potentially in a 2nd wave up. Once the wave completes, then look for a 3rd wave down, then fourth and fifth waves.
Good luck with your trading and we’ll see everyone again shortly.
An overview of the
currency markets by 


Hello Mr. Yamashita,
I’m a newbie in fxtrading. Is it still valid by now if I take short for EURUSD at 1.3740 by now?
Hello Julius,
Welcome to the world of FX Trading and thanks for leaving the comment. Please view our latest post by clicking the link at the bottom of the page.
Also, not being sure of your trading background, please be sure to learn (and apply) sound money management practices and start off with demo accounts.
Good luck and welcome to The Trader’s Edge.
http://blogs.fxstreet.com/tradersedge/2010/02/17/potential-eurusd-upswing/