This is a story we've seen repeated in the forex markets again and again.
July 20, 2012
By Elliott Wave International
About once a week, the editor of EWI's forex-focused Currency Specialty Service Jim Martens records a video for his subscribers.
On Thursday, July 5, with EUR/USD trading in the mid-$1.2400 range, Jim posted the video you see below. Watch as he explains how Elliott wave analysis helped him realize that EUR/USD was on its way to make a new low for 2012 -- before the new round of "bad news" from Europe was subsequently blamed for the euro weakness.
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This article was syndicated by Elliott Wave International and was originally published under the headline (VIDEO) EUR/USD: A Great Real-Life Lesson in Elliott Wave Analysis. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.