Possible CHF count on the 30 minute chart.
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Eurusd Turning Up
It looks like EURUSD is heading higher again...
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Flagordon Eurusd
Looks like we nailed the short term count for EURUSD yesterday... I think we are headed higher now.. http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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usdchf
http://i26.tinypic.com/i5qbg9.jpg
eurjpy 30 min
Chakow, here's what could be happening with EURJPY.... (center of elipse, w4 target, is 161.26)
http://i26.tinypic.com/mwtjjm.jpg
pretty simple imo
I can count 5 waves up off 9440
I believe it is a 1, but could be a fakeout C of a flat before we make a new low then really start impulsing higher.....
so playing both sides but erring on bullish side
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Here you go....
This is the chart gizmo posted which looked valid but I double checked it against GET.....
http://i27.tinypic.com/10mk3sl.jpg
Here is what I saw with GET....
http://i28.tinypic.com/aol0jo.jpg
This is what happened over that night...
http://i26.tinypic.com/2ebeasz.jpg
And this is where we are currently according to GET.....
http://i30.tinypic.com/2m6tjs3.jpg
EURCAD....bullish against 1.5395..target above 1.6324
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Possible EUR count working on the 30 minute chart.
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Possible CHF count working on the 30 minute chart.
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Eurcad
I have been looking at eurcad and i just broke the upward trend line.
I shorted with a tight stop and will dump and buy at the lower trend line.
As for the jap crosses, I am short eurjap but I believe there is another wave up.
Waiting to enter short usd jap again at 104.45.
gl all
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Aud/Usd
could this pair have finally topped for now. risk reward looks good, but it has before too! This is a 5 min chart. but waves are waves. They will combine into the weekly chart.
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Eurusd
EURUSD short term chart...
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I truly believe that japanese yen is not much subject to market insanity and madness resulting fro every word mumbled by greenspan or trichet or their sidekicks. Therefore, the yen at least follows technical pattern with less noise.
Just few minutes ago I shorted EURJPY, my chart will explain.
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EURUSD 15minute
End of w3 roughly agrees with Brad's posted count on the 30 minute chart. Potential w4 target around 1.5490 too.
http://i27.tinypic.com/2pp0e8z.jpg
USD/JPY 5 min
Anyone has any thoughts on USD/JPY? I believe we are in wave 2 of the decline from 105.58. I don't see the decline from 104.05 today as impulsive because of overlapping waves. So I label it as a wave X. Seems like there will be more correction before it heads further down.
http://www.geocities.com/zhliew/trading/JPY/JPY5min0512_1.jpg
Chart Update
Original Post
Post # 7901
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Change of heart on my part, it will be interesting to get another perspective,
Covered 2.0030 short this morning at 9973, now flat on spot. still hold the 9880 put and also this morning bought a 2.0100 1 week call for 25 pips. The price on that suprised me and indicates that the market is biased for lower, but I'm not sure if we are going from these levels or 1 more 2.0100/0200 test.
There is no doubt that on the technicals, (daily has definately rolled) cable is capable of a deeper correction lower, however home sales later today need to be above expectations as do durable goods tomorrow, If they are not then despite the extremes on all the majors the USD could still go down further.
Markets can often move much further than expected and we still have not tested the TL from the March 1995 1.6680 high currently around 2.0230/50
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Cable just touched the .50 fib from the 2.0132 high to this mornings 9954 low after the bad data,
However I think USD is going to have a hard time breaking below last weeks 1.2001 low on swissy, plus just below that we have a TL from the Dec 2004 low as further support around 1.1988.
I'm looking to short cable on another failed 2.0040 test with stops above 2.0070 alternatively wait for the .618 @ 2.0063
Edit : Gone long at 2.0002 targeting 2.0060-2.0130 tight stop at 1.9984
Cable getting held down by EURGBP this afternoon. that pair now just testing the .786 also o/b on the hourlies, looking for that to pullback a bit to work the o/b off which should help cable higher assuming the USD doesn't do an about turn, Gold has pulled back quite a bit from the highs earlier but that just looks like an aversion to the $700 rather than a USD related move.
Equities still headed higher today despite the bad housing numbers, DJIA is really gunning for that 13,000 level but in my view there will be a lot of people taking some profit if/when we get there so it could pullback, any further deterioration in the US data tomorrow could be the start of a larger corretion in the indices, that in turn will cause further carry unwinds, just something to consider, bearing in mind the level of spec GBPJPY longs still out there which will have an effect on cable.
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It's very quiet in here.
Well first set of US numbers out today pretty healthy, have to see now if the housing at least meets the improved expectations. If they do then I think we will be visiting 9950 before close today, If they are bad then could well see 2.0130's again but personaly I think that will hold any topside today.
We have some pretty hefty macd divergence on the weekly chart which I am definately keeping an eye on. One more pop up this week would give us a nice shooting star.
Who knows, I'm just thinking out loud here http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif Any other views ?
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