for major currency pairs. The price level on the screenshot are Pivot points, they can be used as your target or stoploss level.
Daily Elliott Wave Analysis May 2013
As you can see, we are in the 2nd wave, EURUSD retracement will stop around 1.3250 and then continue riding the third wave to 1.2040. Long term trend is down and look like we are having a Head and Shoulder forming, we are on the right shoulder now.
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