EURUSD
Way below the expected target area, and although it could still be a valid count, the alternative gray count seems to be unfolding, which as I mentioned in fxs thread on MTec, would mean continued sideways trading in wave B, before we can expect a drop down to 1.22 and below...
Since this drop went this deep, it provides a wider range for the next move up below the 1.298 top.
Intermediate bias is still bearish, but I expect this drop to end soon, probably not below 1.2485, to bounce up to 1.2750 and probably not higher then 1.2897, but we should wait the market to develop some indications before we can project possible targets up.
ID
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.
Monday, July 17, 2006
Tuesday, July 11, 2006
NZDUSD update
NZDUSD
last post on this pair was accurate call for a bottom, and turned to be a good buy call (~0.5960/50) for ~200 pips at current market price (0.6167).
Now watch 0.6198<>0.6233 for a possible retrace, but I would expect it to possibly go up to 0.6269<>0.6336
Still no clear answers to those questions. we need to let the market develop more clues, before we can have the answers.
I'm still not really convinced we have a bottom...
I'll try preparing more detailed analysis during the weekend.
I also consider continuing my video analysis series.
ID
last post on this pair was accurate call for a bottom, and turned to be a good buy call (~0.5960/50) for ~200 pips at current market price (0.6167).
Now watch 0.6198<>0.6233 for a possible retrace, but I would expect it to possibly go up to 0.6269<>0.6336
Still no clear answers to those questions. we need to let the market develop more clues, before we can have the answers.
I'm still not really convinced we have a bottom...
I'll try preparing more detailed analysis during the weekend.
I also consider continuing my video analysis series.
ID
AUDUSD daily update
AUDUSD topping, but it could go up to 0.7573<>0.7592
Depending on your strategy you could short from here and add if it goes higher with stop above 0.7592 or hunt the top from here with tight stops.
If this plays true, min target 0.7208
next targets 0.7060/10 to 0.6860 (most probable min target to finish larger correction). Below that 0.66
Nice confluence with Gold, which was contained in my target area for a while but broke above it today. That made me reconsider a possible break little higher on AUD too. Nevertheless it is either a top or very close to a top, which represents a nice R/R opportunity.
This is a great Risk to Reward opportunity.
Take care
idejan
Depending on your strategy you could short from here and add if it goes higher with stop above 0.7592 or hunt the top from here with tight stops.
If this plays true, min target 0.7208
next targets 0.7060/10 to 0.6860 (most probable min target to finish larger correction). Below that 0.66
Nice confluence with Gold, which was contained in my target area for a while but broke above it today. That made me reconsider a possible break little higher on AUD too. Nevertheless it is either a top or very close to a top, which represents a nice R/R opportunity.
This is a great Risk to Reward opportunity.
Take care
idejan
Monday, July 10, 2006
EURUSD update
On the chart is the update of the previously published chart.
It shows a possible Running Flat (wave [b]), and if the recent fall wave (c) continues lower of (a) it will be an Extended Flat. Of course break below 1.2478 will confirm C down... On the other side, break above 1.2980 will invalidate this scenario.
Best to all
ID
It shows a possible Running Flat (wave [b]), and if the recent fall wave (c) continues lower of (a) it will be an Extended Flat. Of course break below 1.2478 will confirm C down... On the other side, break above 1.2980 will invalidate this scenario.
Best to all
ID
Thursday, July 06, 2006
Gold and Crude
Nice confluence to USD view gives a look at GOLD chart and the CrudeOil chart.
Gold is about to finish a wave B up around 632.80<>636.45 to continue down to somewhere around 500.00<>437.50 probably 449.20
I expect same with Crude Oil, which could top somewhere around 76.56<>78.13 and correct down to around 50.00
This could be considered US Dollar positive.
idejan
Gold is about to finish a wave B up around 632.80<>636.45 to continue down to somewhere around 500.00<>437.50 probably 449.20
I expect same with Crude Oil, which could top somewhere around 76.56<>78.13 and correct down to around 50.00
This could be considered US Dollar positive.
idejan
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