KNOW WHAT OTHERS DON'T
Welcome to my Market Directions ramblings.
I mainly focus on Major Forex pairs.
The idea is to grasp Intermediate to Longer term market moves.
I use different aspects of Technical Analysis and I take into consideration economic news data, but just in conjunction with my technical analysis.
Comments and criticism are welcome as long as they are constructive and will help both readers and me to improve our understanding of markets moves.
Tuesday, February 14, 2006
USDX update
A possible development I was considering on EURUSD too.
The fact the that possibly finished C, ended equally in a cent of previous decline wave A,
could confirm Once Upon a Time in the West scenario, which teaches to never turn a back on a dangerous guy, even if he showed up on a gunfight only with a knife.
If 90.35 and 90.10 provide solid support, we can expect USDX to continue for a final rally before a larger degree move south.
However, looking on a Daily and weekly, a possible min correction down from here could be around 89.50/55 for a retest and continuation below 87.83, before a final continuation up.
Let's see how this unfolds.
On the picture is what could be a Running Flat (light blue) and the other part (darker blue) is what could follow if this is not a finished Running Flat.
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This is piratically the second day in the new home, we are still moving in, so please have a little patience. We need to accommodate to this new media. I was just told that this is practically a web site and we can add pages with lots of useful content, so if you have any suggestions what could be useful just write. I have few crazy ideas my self, but for now let's stick with simple blogging. I'll let Stojce surprise us with some more useful and handy stuff.
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