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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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DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Sep 4, 2013 0:06
In reply to Qingyu's post
My read is the EU made a significant high on the 20th August and will work its way down to about 1.18 in the usual wave sequences containing both short and long trades. A new high above 1.3450 would violate my preferred count.

The GU is more difficult to read because the 21st August high could be W.3 starting from the B wave low at 1.5100 or it could be a completed C wave which would be a Wave 2 up from the 1.4812 low made on the 9th July. Either count I am bearish the GU longer term which suggests the usd is destined to travel north.

USD north contradicts my fundamental bias which is that tapering will not happen for very long, more likely to see further QE in our futures after maybe 2 or 3 months of 5 - 10 bil tapering. I am trading only technicals because correlations based upon fundamentals keep changing---I feel they are less than helpful.
Qingyu
manchester, UK
Posts: 1763
11 years ago
Sep 3, 2013 21:54
In reply to DaveO's post
he got GU long and EU short, so it is almost equal to EG short. my target only for next few days, so i thought no room.

but i restudy the chart on longer frame, u r right about it. but my "equal to" idea was just not right, maybe one target achieved then another target start to work.

i think i will in EU short after Draghi speech, and play GU long just before every UK data. cat worried about UK true recovery, although that maybe not true, but just in case i dont hold GU for long period.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Sep 3, 2013 21:38
In reply to Qingyu's post
Today it broke the trendline support drawn from July 2012 low coinciding with the 200 DMA so you could see a retest at some point, stops need to be above. You could see reactions at 8400 and 8385
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Sep 3, 2013 21:11
In reply to Qingyu's post
8352 correction symmetry, ext 8238 with 50% ret in the middle at 8282. I don't know AL's targets !
Qingyu
manchester, UK
Posts: 1763
11 years ago
Sep 3, 2013 20:55
In reply to DaveO's post
dave, do u think AL short EG is a good idea? my chart shows downside only 40-50pips room.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Sep 3, 2013 20:13
Another glorious sunset here--summer fantastique, manafique, formidabla. Quite the exception.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Sep 3, 2013 16:24
In reply to DaveO's post
typo, aus headin to test 9232 first
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Sep 3, 2013 16:22
aussie strongest cy today, headin to test 9112 and then 9515 to 9722 area (current 9060)
Sir Ignore
United States
Posts: 3068
11 years ago
Sep 3, 2013 16:19
In reply to DaveO's post
dat uz u prudent wise mon..

small entry here....force miself to watch it..
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Sep 3, 2013 16:16
In reply to Sir Ignore's post
aye aye skipper, I gonna wait for slightly higher like 3186 test
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