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.
Thursday, July 06, 2006
Update July 6th, 2006
Short update on EURUSD
It is a closer look on what was presented on that picture few days ago.
As I said before, we see a possible ended B, but on the other detail I'm presenting a possible scenario where B is still on...
On the next chart we see that scenario, which I believe is very possible, some more stop hunting before the big dive down in the next C down to finish (A) in the target area shown on the above picture.
However, a significant break below that target area for wave [b] could seriously argue about wave B being fiished, and the break below the bottom of wave A will confirm we are in a wave C down.
Take care,
idejan
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