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Forex pairs in this Article » EUR/USD
By: DailyForex.com

Currency: EUR/USD Trend Expected Direction: Flat Method: Elliott Waves and Fibonacci Levels Description: I usually do not trade om Mondays due to market instability and risk involved over the weekend.  Looking at posted chart, We can see alternation expanded Flat as wave two in red and corrective in progress zigzag in black. However, both corrections fall within trending channel.  One more wave is expected to take off as of wave v reaching around 1.3100 theoretically.  However, lets wait for Eurozone Finance Minster summit for Greece funding and Spain bailout cues before we plan our next move. Recommendation:  Step aside and watch next trend move! Target Area I: N/A Stop Lose: N/A

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