Inside EWI's forex-focused Currency Specialty Service, you won't find any discussions of how Ben Bernanke's rumored QE3 campaign, or another round of bailouts by the European Central Bank, might affect the US dollar, or euro, or pound.
What you will find instead are discussions of Elliott wave patterns and other technical indicators shaping trends.
What does that look like in real life? Here's a snapshot of our Currency Specialty Service's November 7-17 forecasts. The forex pair in question is GBP/JPY, the British pound/Japanese yen cross rate.
Nov. 7, 5:03 AM:
Topping? The watch is on for a second wave top to form, especially while the action stays beneath 125.85, and then for a third wave to carry beneath 123.90.
Nov 14, 1:29 AM:
Price traded beneath 124.02 and 123.76 as a fourth wave peak at 124.27 comes into focus and we anticipate new lows in wave (5).
Nov 14, 5:11 AM:
Prices have rolled over into the anticipated...larger third wave... drop here could reach 120.83, a 1.618x objective for the decline.
Nov. 17, 8:12 AM:
Prices have nearly reached the 120.83 level pointed to, and the risk of a bounce increases above 121.66, with next resistance at 122.10.
See, while the world frets over Europe's debt crisis and America's "supercommittee" failure, forex markets keep unfolding in recognizable Elliott wave patterns.
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