Thank you Sive, the gap is still there and look like market is attempt to fill it.
For your preference, this is Elliott Wave Analysis for EURUSD and AUDUSD, the reason I mention AUDUSD is because it is highly positive correlation with EURUSD so basically if AUDUSD price action gives some hint about future movement, it's worth the considering to trade EU
Thank you Sive, the gap is still there and look like market is attempt to fill it.
For your preference, this is Elliott Wave Analysis for EURUSD and AUDUSD, the reason I mention AUDUSD is because it is highly positive correlation with EURUSD so basically if AUDUSD price action gives some hint about future movement, it's worth the considering to trade EU
Hi Nicole!
The way I see it is that AUD is following EUR not the other way around, don't you think? In fact, I think all major pairs as well as crosses are following EURUSD in some extent.
Hey sive hope your well.
do you think market will spike down, take out the lows of the market and the stops and then accelerate up, because i remember you saying to look for some sort of buy signals on the daily time frame??
secondly, on the other side, do u think market will accelerate up?
because our
A - 1.35080
B - 1.39357
C - 1.35854 ( Wash and rinse of 78.6 level of A/B )
D - ?? 1.41496 ( 100% expansion of A/B)
* All the above are spot rates *
Yousuf.
Hi Yousuf,
you push me in some gambling...
In general, market has a bearish bias, and I suppose that downmove will continue sooner or later. But currently it stands at significant support, so I do not exclude probability of deeper upward retracement.
I prefer not to gamble but look at clear patterns. Now I do not see them, until I will not see them I will not open any position./QUOTE]
hey sive, thanks for your reply,
lol, i wasn't really pushing you into gambling just sharing my view, but then again if you wont open the position then i wont either.
The other reason for my bullish stance on the market is
http://www.cftc.gov/marketreports/commitmentsoftraders/index Commitment of Traders - CFTC
The COT report from the CME for euro futures, there is a deviation and more and more contracts are being bought for euro long.
What do you think?
Yousuf.