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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
believe it not the research paper has only figures, not a single chart. Crazy world isn't it?
One very advanced ( has 4 (four!) charts) paper How to profit from the Euribor-Eonia basis but what this adavnced trader trades is not charts its numbers, figures.
My insistence to see 1.28 remains, though looking very shaky.
1 week after i called for 1.27, EURUSD dropped to 1.30 before staging a very bullish weekly candle (described on here as a doji). That pattern worked great and set us up towards 1.38.
1.3980s-1.4020a is now a high certainty outcome, before we drop back to 1.36 and later to 1.30s.
The daily chart is looking toppish. Weekly still looking robust, while monthly (very slow) remains bearish.
Figuring out the the likely fundamental catalyst to these technical targets is up to i) actually events; ii) pundits and reporters' interpretation and iii) market psychology.
Another high certainty event imo is 1260 in SP500 CASH (not ES). Dont forget the seasonal Santa rally in stocks.
Must remain flexible and always revaluate your opinion, with a reason as to why and not going back and forth w/out a reason.
Good luck
Ashraf
Ashraf
c'mon cat..not even you can believe that....
Have you recommended Ashraf give up his technical signals??
and why do I consistently make dosh based on charts?
and Dave and on and on...
remember some rookies might just follow you..
c'mon..give them a break..don't mislead..
( hint : NOT chart astrology).
EZone banks namely cash strapped french banks have sold USD for EUR to avert a liquidity crisis. According to Deutsche the market has totally misinterpreted this flight to last resort as a sign of relief. But not all of market: USD longs started to pile up.
That makes sense. I assume fx will overshoot to 1.4 EURUSD and then come down rapidly. Because the situation became worse, not better.
DaveO: In these days traders need to monitor French sov bonds and the spread French Germ bonds.