An overview of the
currency markets by 
Greetings.
Looking at the hourly EUR/USD chart, it seems we’re in a potential Wave 5 of a larger term Wave 3 in an impulse wave up. For those who aren’t familiar with Elliott Wave or have trouble visualizing what we just said, please refer to the chart.
What this basically means is that we’re going to finish our Wave 3 up and then head back down to form a Wave 4 retracement before going back up again for Wave 5. If you’re long in the EUR/USD, potentially look at protecting some of your profits. We still could push up to the 1.3100+ area but use caution.
If we see the end of Wave 3 soon, look for a potential Wave 4 retracement to hit the 1.2700 area. Once we see the end of Wave 3, we’ll be able to use some of our Elliott Wave formulas to give out potential targets for Wave 4.
Remember to apply your money management and use your stops. Don’t make a bad trade turn into a nightmare.
If you have any questions, please be sure to leave us a comment.
Good luck.
please when are we to expect a down trend in ero/usd
thanks
am new to trade
iam new to this buisness, i have doubt regarding placing the stops in position trading, will you suggest your idea sir
WHEN WE COULD SEE 1.36 THIS WEEK ? 16TH AUGUST…….