Euro Bottoming at 1.1880???FED words made more strong the USD???

Discussion in 'Forex' started by torosyososfx, Jul 3, 2005.

  1. Euro Bottoming at 1.1880???FED words made more strong the USD???

    The last week the euro was in a horizontal band, waiting the FED words. The rise of the interest rate, giva confidence to the investors, and a strong decline in the euro took place on last friday. As we said before, two alternatives for this corrective pattern, a flat or a triangle; the market choose the running triangle 3-3-3-3-3. Triangles only appears preceding the last motive wave of the pattern, in this case as a wave ((iv)) within 3. For both countings, the blue and the red, the support for this last leg wave ((v)) within 3 or (v) within Y, is the middle line of the descending channel, that is at this moment in 1.1883 and the pivot point support at 1.1889.
    The Blue counting shows a wave 3 within a wave (A) still in progress.
    The Red counting shows a wave Y within a wave (W) still in progress.
    In the Stock Market is a Pattern just in front of you, hidding behind the Waves
  2. anyone buying euro soon what a decline from 1.36 to 119 in month or so
  3. Anyone understand anything in this thread?
  4. Your sentence is clear. The other 2 posts are "clear as mud"
  5. I think he's indicating EUR/USD is gonna go down another 300-points.

    The "3-3-3-3-3."

    Classic stutter pattern....
  6. Sam123

    Sam123 Guest

    When Europe finally woke up from it's anti-U.S. stupor, and realized their own situation is worse, I honestly didn't expect the Euro to drop so low.
  7. 1.15 would not surprise me before the end of this year.

    sorry Warren
  8. good point, about what will ole Warren be chalking up to loss?

    $5 billion? he never lost that much in his life. the old geezer'll probably have a heart attack - LOL.

    what about Gates? got to be taking a multi-10 figure hit....
  9. dbell66


    Has Buffet actually lost anything?
    Until he actually closes the position at a cash

    In any case, it's my understanding, he took on the position a few years ago at rates probably still better than today.

    My guess is he probably set that money aside for buying up foreign companies or some such hedge when the dollar was stronger and just doesn't look at the trade like most traders.....he's in for the long term and just looks at these things from a completely different perspective.

    I'm sure he'll have the last laugh. It's hard to bet against a guy who created $120B+ out of thin air!

    Buffet Fan
  10. wOg


    Not sure I followed all that EW in the initial post. But my EW suggests the potential of a low at 1.1617 (wave 3) and at 1.0350 (wave five).

    The break down in mid-May was very bearish technically. Things haven't gotten any less bearish since, in spite of some positive divergences ...
    #10     Jul 4, 2005