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Economics is a wonderfully confusing field of study. The debate on the US dollar proves once again the words economics and science should never be used in the same sentence.

There is the prevailing wisdom side of the fence that says the US dollar must depreciate if its trade balance is to improve. Proof positive economists rarely let real world facts get in the way of a good story.

Below is a chart of the Balance on Merchandise Trade for the United States. The worsening trade deficit began its next sharp leg down around 2002, the beginning of a massive bear market in the US dollar. The point: A weak dollar and massive deficit in trade were correlated; one discerns from this chart.

The ...

Ilovepippin is a "regular" in the Elliott Wave forum. He gives clear chart analysis and then follows up with the outcome of that analysis.

I love how this chart analysis is side by side and you can easily see how the trade played out.

He had a great trade here that worked out very well in accordance with his Elliott Wave counts.

Check out his post & more posts like these, here: http://forexforums.dailyfx.com/ellio...tml#post357870

Congrats Ilovepippin!

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Even after breaking the previous low's of 1.5765 and taking our previous Stop Loss, Strong upward momentum before end of the current month still exists.

GBPUSD:
Retracement towards lower 1.5800 is likely and the ideal entry level is at 1.5815.

Best BUY Entry level 1.5815
Stop Loss 1.5700
TP 1.6437 +
Max risk 2%

GBPCHF:

Best BUY Entry Level 1.6210
Stop Loss 1.6108
TP 1.6550
Max Risk 2%

EURGBP:

Best SELL entry Level 0.9340
Stop Loss 0.9415
TP 0.9160
Max Risk 2%

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EURUSD Forecast: Slipped Above 1.4850, Further Dollar Weakness Expected

The EURUSD continue it's bullish momentum yesterday, topped at 1.4874 and closed at 1.4851. As you might already know, 1.4850 – 1.4950 area is a very important area for me since I believe any reactions around that area determine whether we will continue the bullish at least towards 1.5300 even 1.6000 area or a bearish reversal back towards 1.4000 area.

So far, the facts show us that the bullish scenario is in control so I prefer a bullish scenario. On h1 chart below we have a valid bullish channel (blue channel) started from October 02 indicating bullish power has been dominating the movement. The bias is bullish in nearest term targeting ...