FOREX PRO Weekly April 30-May 04, 2012

i was gonna say 'this is the 'oops!' moment'. however, for long term traders, steady as she goes as these are good levels to enter long notwithstanding all the broken technical levels. on a longer TF this was but a correction. TP = 3370 remains the objective IMHO.

price has found SPPT at midBB (17 periods) on weekly. g/u will bounce off 38.2 = 6146/50 if no bounce from present level of 6170. u/chf is at 61.8 and will drop to 9110/13 (38.2%). i know what it looks like on e/u daily but bear in mind price is still inside the wedge and although it looks like we'll have a retest of 3000, this is not a logical market. instead, we'll have further USD weakness which will act as a catalyst for the bounce up, at least between now and the end of the week.

my credibility is on the line. ;)

I'm looking for a G/U bounce around here...concurrence is always good


would a DRPO on 15m euro be valid at moment..do we have the right thrust etc?
 
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looks like a DRPO LAL. 10 candles between the first close and the 2nd close above the 3x3.

I'm looking for a G/U bounce around here...concurrence is always good


would a DRPO on 15m euro be valid at moment..do we have the right thrust etc?
 
Good Day Sive(My Mentor),
Thanks for ur good work as usual.
pls what type of pivot point do u use is it classical,fibo or demark etc.
thanks once again and thanks to FPA.
 
there's a gartely 222 sell on S&P500 daily. if the correlation with e/u still holds, then we'll revisit the downside fairly soon. of course, the gartley could fail, but if it doesn't ....

also, bearish divergence on daily and monthly MACD, possible triple top with 3rd top lower than the previous too and we are close to the market all time high as well. and so since gartley/butterfly sell are reversal signs when they appear on tops, looks like we have something brewing.
 
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just spotted a gartley sell on e/u H1. left wing completed, right wing potentially underway. fib ext 100 and 127.2 in agreement with K-area around 3184/94. and fib ext 161.8 = fib node 61.8 from the most recent drop starting from 3237.
 

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one more thing.... next sunday is may 6, the greek election day. after that, it could be that all hell breaks loose as in a massive S&P500 and e/u sell-off, which would jive so far with some of the technical signals currently in evidence or under formation. but if pandemonium doesn't ensue, then the USD will be dumped and e/u will tickle once again 3370, at the very least.
 
sive,

you mentioned your USD index analysis as pointing towards USD strenght with the euro reaching 1.17 long term. what do you make of this contrary analysis of the USD/NDX?

A clearer look at the long-term US dollar decline | ForexLive

Hi Triantus, what can I say?
Here is no numbers, no foundation, just couple of words about mystic China and yuan.
By looking at chart that they've provided I can offer counter opinion - what if this is W&R of triple bottom? :)
Such discussion looks too surface and poor.
Technically, Dollar Index has chances to reach 1.16 in EUR/USD term. Besides, take a look what is going on in Europe - Spain at the edge of technical default, they have 25% unemployment, nationalists can get France by current elections, we also know a lot about Italy. All EU holds only by Germany now.
I suspect that some turmoil could start in EU, if Spain will not be able to hold their problems inside and after elections in France.
Currenty US feels much better, even with their own problems. That's just short-cut view.
 
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