EUR Trade Index 18-Year Chart

hi ashraf, with the latest uk-china data out ,does this comfirm ur target on eurusd..1.3200..usdcad 1.0800....thanks for spelling it out

hi ashraf... based from the your hot chart... do you mean the upside already capped at 3850 area?

Whoa - wait a minute...you guys were in Las Vegas - "hello!" Any fx traders come to my town, better give me a call :)

So, we have (2) two 900+ pip impulsive waves down on this embattled E/U pair and are now coming to the end of a 'shallow' correction. We should see another 700-900 pip move down...take today's high of 1.3826 and tell me why the rumor of a Greece bailout didn't take this pair up higher? The answer: It was nothing but noise folks!

The .618 retracement of the prior decline is at 1.3858...and the .236 retracement of the larger wave down from 1.5150 is 1.3942 (2nd option).

Now ask yourself...If I'm expecting a 700-900 pip move down from these levels...wouldn't that settle around Mr. Laidi's 1.32, Morgan Stanley's 1.2800, and Goldman Sachs 1.2000? It took the last retracement from 12/22 - 1/13 to move 400 pips in 21 days...in just 24 days we moved from 1.4600 - 1.3600 - smashing 1,000 pips down in nearly the same time.

I think when he gives you a figure, you need to sit down and analyze your responsibilities in executing the trade.

My condolensces to those of you who have been shorting eur, gbp and aussie relentlessly, and now are caught. It is obvious fromm the questions to Ashraf there is some panic in the shorts voices. Use this as a learning experience about not getting to leveraged.

Eur will turn and go south, but not until it inflicts maximum damage and margin calls along the way.