Forex Daily Podcast

The EUR got back to 1.1977 as we thought yesterday, but hasn't done much since. We expect it to rise at least a bit more here, hopefully the patterns will become clearer in the next few days. We are on the sidelines for now. The EUR trades at 1.2013. The GBP has been running sideways for the past day and is currently at 1.7730. The CHF has also been moving sideways, so much so that when I saw the chart this morning I thought one of my kids was scribbling on it. We still expect it to run lower. It trades at 1.2831. The JPY rose right to our minimum level for a retracement yesterday before running down. It rose just above the 236 FIB line before continuing to run down. We hope some of you got into a trade at these levels. We've posted an alternative count on the web site today. We think that we've seen a complete wave 3 and we have one more correction before the final fall. We are likely in a small flat or extended flat here meaning the JPY should fall to the 1.1583 low or slightly lower before mov