Euro falling to 1.20??? After topping at 1.2978, completing a five wave structure up, being the second active wave of the pattern, an important change of trend took place. And the bears control the market since then as playforex.com.ar expect. All trends have at least three waves, and the first wave down is complete at 1,2528 and retrced to the 0.382 fib level. How long can be the next wave down?, the elliott wave structure and relationship between waves can help to establish a support for this low, as the daily map show at the forecast.
As much as I'd like to say all indicators point down (continued drift), euro-bulls never cease to function outside the realm of sanity. Concluding... I would not bet on euro falling to 1.20. dRaWdOwN
This is the same elliot wave guy who posted a week ago. toyos or whatever. With the forex/gambling site.
I would love it to drop down to 1.20 or 1.16 like awhile back. I will unload some USD. I think the fundamentals for Euro are much more favoralbe than for America, but that is off topic I know.
The trend was not till today, wednesday, declare to down or up. Because of it we can say that the trend continue being sideways, and if we take a look to the 4 hours charts, we can labeled a running triangle, started on june 13, being in progress. A break of the 1.2474 low, tell us that a complex and subdivided wave 3 is on way.
I think the fomc news will bring the pair down to 1.2400 and continue to 1.2100 by mid to late august.
No way. Even though I shouldn't be saying, because I'm currently not trading EUR/USD but, if it climbs back up I may split my acct cap in half and open shorts against it in a sub-acct. It's not going that far down in this environment - too much one-way committal - too much for the stomach of this market to handle. we'll fluc back up after zee vate hyke. drawdown
I anticipate a climb in EUR/USD to such an extent after tomorrow's FOMC annoucement that I moved the cash into a sub-acct to get ready to engage shorting the climb up. And, I see no reason why it shouldn't be a fairly steep one ... into the 1.2800s++. Anyone else see this coming in the next several weeks? TheDrawDown 1.2545 It's posts like this that give me an average of 10.72 posts per day.
Is that a new wave term for trend designation? Bull, Bear and Sideways Trend . . . hummmm Interesting. I never knew any market could "trend" sideways. Has to be something specific to that furrin funny currency the Euro, huh? Humor is the Best Medicine
Point in case (case in point??): http://news.yahoo.com/s/ap/20060629/ap_on_bi_go_ec_fi/economy "Economy zips ahead at a 5.6% pace" ... and EUR/USD goes SIDEWAYS 5-pt flucuation...... Need I say more? DD