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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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subway90
Posts: 1078
14 years ago
Dec 8, 2010 17:45
Ashraf....

i see...
i guess you're putting into assumption that downtrend has resumed....
my only point is maybe too soon to assume it has resumed downtrend...

anyway thanks for your answer... :)
subway90
Posts: 1078
14 years ago
Dec 8, 2010 17:42
daveO...

as long as 2587 main support stays intact... upmove from 1875 low is still in progress.... and see possibility of further upmove....

current scenario for me in Euro is from the 42xx top... could be in an a-b-c(A... 2968) a-b-c(B... somewhere around 3690-3740) then a-b-c(C... expecting somewhere around 2800 level)...

break above 3450 would support this view....

or for more bullish setup....
if Euro manages to get past above 3800 level... could be headed higher already(but looking at the monthly candle... biased to see 1 more dip)...

monthly close below 2800 level for me would the first warning signal... but only break below 2587 would see it drop to 1.20 initally then lower....
Ashraf Laidi
London, UK
Posts: 0
14 years ago
Dec 8, 2010 17:35
Subway, i mentioned 1.27 as a conservative first target in line with Jul 21 low. I couldve well gone with other levels like 1.2580. Let's start with that first.

Ashraf
subway90
Posts: 1078
14 years ago
Dec 8, 2010 17:25
DaveO... thanks...:)

care to share your personal view on Euro short term?
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 8, 2010 17:24
I agree your bullish scenario but since I read only 3 waves down thus far on daily a break up could well lead to new highs above 4280 i.e the correction has been down, done and dusted. Three alternate counts running for me and Ashraf bias is neg.
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 8, 2010 17:17
Another possible target I have is for the move down from 1.4280 high to be a 5 sequence. In this event wave 5 would=wave 1 at 1.2588, right on the 24th Aug low.
subway90
Posts: 1078
14 years ago
Dec 8, 2010 17:14
break and close above 3280 would be a good signal to go long.... break above 3400 confirms..

intial target of 3600 enroute to 3690/3740...

november monthly candle was very bearish.... however last week's bullish candle suggest we could be in correction first of the whole downmove from 42xx level to last week's low...

DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Dec 8, 2010 17:06
Subway, 1.2716 happens to be 127% sym ext but I suspect Ashraf eyeballing 61.8% ret at 1.2794 for a reaction. Let's see what the meastro says :-) I can't see any of his MA's there.
subway90
Posts: 1078
14 years ago
Dec 8, 2010 17:03
as long as we don't see a daily close below 3200 level... see it moving higher first... break below 3059 would confirm another dip first...
DaveO
UK
Posted Anonymously
14 years ago
Dec 8, 2010 17:02
Hey, lets take a month at a time for trading. None of us know exactly what will happen or when. A single catastrophic event could change everything. Empires come and empires go. Geographical location and demographics have much to do with that. S.America pretty well placed for the future and who knows whether the bible prediction for large portion of middle east to be laid to waste will come true, etc etc etc.
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