FOREX PRO Weekly July 16-20, 2012

minimax

1st Lieutenant
Messages
1,456
Empire State Manufacturing Index - this is what caused this move and these things will continue for a while
 

Louis123321

Corporal
Messages
174
I could be completely wrong but I strongly believe market does not have enough traders willing to buy the EURUSD right now, only bears refreshing sells at the tops, which is the price action we are seeing so much this month. Already from that news release market has not reached 1.226 level and is below where the previous bounce spiked up to fairly quickly right now and showing even heavier bearish price action.

If this is retracement of that recent spike then it has hit 50% already and looks bearish to me, like its being weighted down on. I think there is a high chance that market could erase this recent spike upward because I think bears have refreshed their sells at the top.

To me, sticking with sells now is still a good idea, I do not think market will reach such a far target as 1.233 - it just does not look to have enough power backing it up.

Also 1 more thing.. the A B C D pattern I was talking about earlier to the downside just acquired it's C point, now all that's left is the D to the downside, if this is valid & not completely off... But if correct & market slowly moves to the downside this afternoon/evening then a really nice bearish ABCD could be on the cards for us aiming just below 1.214.
 

minimax

1st Lieutenant
Messages
1,456
it was a joke, from cartoons.....everything is possible, I said that I do not negate down move into LL but I do not believe in, so I am waiting...time will show the solution
 

minimax

1st Lieutenant
Messages
1,456
he is very unpredictable last couple of weeks; he makes a spike high and comes down tp 1,2210/1,2190, there I am waiting
 
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