Yesterday I posted the hourly chart of EUR/USD noting the channel. That channel was broken yesterday to the upside, and Jamie Saettele is talking about a EURUSD move back towards the 1.4500 area. Here's a look at his elliott wave chart:
Of importance for later today is the FOMC Meeting Minutes release at 2:00pm ET. The release is important for learning more about the Feds plans to end QE2 and intentions for the second half of this year. QE2 is scheduled for completion in June. You can read more about today's FOMC meeting minutes release in David Song's daily market briefing http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/us_open/2011/05/18/05-18-11.html
EURUSD: 60 Minute Bars
http://media.dailyfx.com/illustratio...ody_eurusd.png
http://www.dailyfx.com/forex/technical/article/special_report/2011/05/18/TopHeadline_2.html
Of importance for later today is the FOMC Meeting Minutes release at 2:00pm ET. The release is important for learning more about the Feds plans to end QE2 and intentions for the second half of this year. QE2 is scheduled for completion in June. You can read more about today's FOMC meeting minutes release in David Song's daily market briefing http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/us_open/2011/05/18/05-18-11.html