Looking for a Long trade

In line with the dollar index this looks like it needs to correct. Also like the other Dollar pairs this could see some more down side but watch for a break of the trend line and a trade set up. Remember we need both the forecast to be right and a trade set up before entering a trade. If price does anything else we leave it alone. Never chase price movement. You cannot lose money if you don't open a trade.

First rule of trading - Protect you capital

Any one trying to learn Elliott Wave Theory can find a FREE comprehensive Building Blocks video course on my website. See my profile for the link.

You can also follow updates via twitter (link from my TV profile)

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve Nixon