Chinook's EUR/USD (E/$)Mumblings

Okay, so have we seen a "blowoff" top in EUR/USD? We're selling down hard now. It may be a good time for longs to close out. JMHO.

 

Nope..... I dont see your pattern. for it to be a butterfly or gartley pattern AB has to = CD in price. The only difference from a gartley and butter fly patter is the extension from X to D is larger than the XA impulse

 

1.34 by christmas.

 

This pretty much sums up the Euro FX since we last spoke. Unmistakable. Weekly chart has not totaly rolled yet, but that is "brewing" It remains to be seen as we talked yesterday.

 

What do you think?? (If chart stays this way through end of day)

 

I don't know about you, but I'm still short the USD againts AUD.

 

I am currently short the Aussie (long dollar) futures from .7647

 

Exactly. spot on actually.

 

For the EUR/USD hourly, the next downside targets are:

1.2781 and

1.2693.

We'll see if either of those hold.

 

Okay, we're in the 1.278 area now, which was my first target.

The MACD is bearish at 2 hours, 4 hours, 8 hours, 1 day, and 1 week.

In my opinion, the next stop is 1.269, and then finally we'll end up in the 1.245 area.

I'm heavily short with a wide stop, so I can withstand a bit.