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Forex (Video): Wave Patterns Predicted Current U.S. Dollar Weakness
A good example of Elliott wave analysis in action.

By Vadim Pokhlebkin
Tue, 19 May 2009 14:30:00 ET
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Since early May, the U.S. dollar has been losing to its main "competitor," the euro. Trying to find the reason for the weakness, conventional forex analysts have been citing anything from rumors that Brazil and China may shift away from the dollar to a reduced demand for the buck as a "safe haven."
 
As most "fundamental" explanations, these ones sound perfectly reasonable -- after the fact. But they tell you nothing about where the USD may go next. For that, you may want to try Elliott wave analysis.
 
Here's a good example. Watch this free 2-minute video alert that Jim Martens, editor of EWI's intensive Currency Specialty Service, recorded on May 8, forecasting the current U.S. dollar weakness before it occurred.
 
NOTE: You need a free Club EWI password to watch.

Tags: U.S. dollar, euro
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