EUR/USD

An imediate drop is expected on the forex market. The market is downside oriented today. It's preferable to play this bearish scenario  as long as the market does not go above 1.3183, as I anticipate a direct drop atleast  to 1.2944. Sell close to 1.3133 to play a drop to 1.2944. The invalidation level of this trade idea is at 1.3183 levels. 

Good luck trading@

EUR/USD - Elliott Wave Update

The pair EUR/USD chose the steep direction toward 1.4550.

EUR/GBP overcame the resistance 0.8795, and turned it into support.

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EUR/USD

The Euro tries to climb to 1.450 in a straight direction, or pulls back to 1350 first. 

Good luck trading!

EUR/USD - Buy EURO

Now I think the expected rally for the EUROPEAN UNION began. Good luck!!!

Disastrous eruptions

         Volcanic eruptions, the Goldman Sachs scandal and the Google figures – what else guys?  Which accident  is not quoted to give reasons for a sell off and to oracle the new system crash. It’s amusing to see the whole media pack panting behind thousands of reasons for tops or bottoms.

This is a new bull market, not bear market correction, this time is different- says the media…...No way..... That was really fundamental.

         The real reason is that S&P 500 reached its first preferred exhaustion target (1215) last week, causing thus a violent counter reaction. That was due to the Fibonacci sequence, Wave count ant Gann timing angles. That rise is based on the supposition that the financial markets as well as our lives, our decisions, simply our entire environment go through cycles which can be determined in advance - the same old story….

        Let's take a snapshot at EUR/USD picture. According to the current wave count the pair has made very clear five waves dip. As most of the EW followers know we need to reckon on corrective pull back, testing one or few of the main Fibonacci levels on the chart below.

       Again,  the EURO guess takes off for a while. What will the fundamentals say about this? Due to the disastrous picture? What's the sense?

EUR/USD -Did the P.I.G.S. sink the EUR ?

            As you know, the Ewaves are usually aroused by the social mood. That inaugurate events in the world, and when the EUR down  trend began, still nobody was talking about fiscal problems in Greece, Portugal and other European countries. We still don’t know if these problems will end next weeks or not, but the pair EUR/USD very soon will complete very clear 5 waves downward, which are built for nearly five months. It was very serious decline due to hmmm....Do you think the P.I.G.S did it?  

          5 complete waves means, that the EUR is going to be kicked out by the green old buck for deeper retrace very soon. 

        See the current labeling I did: Technically two weeks ago I was doubting about the (V)th wave could happen (the current (iV) wave was labeled in my chart as "leading diagonal" of potential (a)  corrective wave). So, that (V) is already underway and I relabeled my count.

I have enclosed the whole data  I've got, and as you see the grand channel (since 1971) still holds the price between the lines. 

The potential target looks like 1EUR= 1$

EUR/USD

This pair is diverging for weeks, and already painted 5 waves up. The correction reached 38.2% Fibonacci, giving me reason to open long position. If it is ordinary "zig-zag" the target is good as well.