4/30 Euro low must be below 913 or.....

gus

Active member
210 0
Friday 4/30 EURUSD Low must be below 913 to avoid a buy signal on the daily chart.
This follows the early warning that I posted on 4/20

Just simple hand drawn charts - no voodoo involved. Having made double daily bar 13's (TomDeMark's Sequential counting method) on 4/20 & 4/21 would tend to confirm a daily low.

The weekly chart is making bar 9 this week - which is a setup, plus if today is 'up' I will finish the week with 2 Walter Bressert buy signals along with a Key Reversal signal. Makes some sense since from the Sept low to Feb high we've now retraced 50%

I am not making a market 'call' nor am I making a 'forecast' or 'prediction' but I am sharing with you some of my technical analysis. If you have questions just ask. Do not make any trade decisions based on this posting!
Easiest way to put it - "Looks up, could go down' - Have a great weekend!

gus
 

JonnyT

Senior member
2,560 22
<I>Easiest way to put it - "Looks up, could go down' - Have a great weekend!</I>

Thats my problem according to the wife!

JonnyT
 

PeterTT

Member
87 1
I agree its starting to look like the Usd correction is ending .. the last sizeable correction was in mid June 2003 and that went on for 2 1/2 months and was 11 big figures after haveing a double top formation .. This would tie in pretty well with this latest correction. I think I will play it by buying some or the precious metals as these are looking very oversold and will benfit from a weaker dollar.

Peter
 

masao

Junior member
42 0
Hi gus,

I see an argument for USD weakness as well at least for 1-3 weeks. The USDCHF 987m has potential for a coil off of the 20 band but if in the next several days we manage to slip we could possibly see a .50 to .618 retrace on the weekly USDCHF or general USD weakness. But looking at the weekly I'd be wary of the potential for a mammoth weekly coil to new 10 week highs or at least a good size test. On the weekly coil the potential exists high band now and if the weekly stoch slips the 80 band the coil potential would still exist off of one of the fibs. Also given the weekly Dow's precarious position the inverse relationship could continue with the Dow falling sharply as the USD surges. All in all at the moment I'll prefer to short the USD below the weekly openline and long above it off of normal method trading. The potential is there for a wild few weeks or even months. Good luck.


Regards,


P.S. Catch you in a week or so
 

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