The euro hits my exact Fibonacci target

Elliott wave theory and Fibonacci levels are by themselves useful. Use them in combination, says John C Burford, and you have a powerful tool.

When I last covered the euro on 12 August, it appeared the dollar was ready for a rally. In other words, the EUR/USD was setting up for a decline.

This was the daily chart then:

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.