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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 2338
Posted: Feb 22, 2010 5:00
Comments: 2338
Forum Topic:
USD
Discuss USD
see the chart at :http://globaltechnicals.typepad.com/blog/2011/01/us-dollar-index-continuation-of-the-uptrend-very-likely-.html
what do u do of the move from 11oct to 14oct?
Complex corrective down to 24th Aug low = Wave B,
5 Waves up to the 4th Nov high = Wave C. Implications we go to new lows below 1.1875.
The potential ABC had C wave reversing at between the 100% and 127% symmetry with wave A.
move below the potentail Wave B low at 1.2586 would confirm but first we would need to break below the 1.2968 pivot low.
from the 19oct to 04 nov notice that the previous pattern is a three wave corrective and the following one is a 5 wave down. from the 17nov to 14dec we also encountered a 3 wave pattern
the 5 impulsive down indicate that eurusd is posed to correct for short term only
the objectif on eurusd of 1.50 is viable.