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- 2006-7-3
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楼主 |
发表于 2008-5-8 14:18
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EUR/USD long term is making waves in this forum. Here's my take:

I attach a weekly chart for the rally from 1.1638 beginning Nov 2005 which I label as a wave (III)

Note that this is a completely subjective view. I wouldn't label this whole thing as part of a correction, or part of an impulse wave, because I don't know the price movement before that. The chart only goes back to 1985. If this thing is part of a correction, then a correction of what? What I see is that from the period of 1985 to 2001, there are 5 impulse waves and a correction. That's the end of one cycle. Then from 2001 onwards, there is another possible impulse ascend which is not even close to completion. I'd say 2.0 is attainable within the next 2 to 3 years if you ask me. But I agree with most people that this pair is close to a mid term top, and a correction is due, or shall I say overdue?
Until someone comes up with the complete history of the price action of the pair, or a chart that goes back about 100 years, maybe we can have a general idea of the trend of what Elliot called the grand supercycle.
Another note: The Euro was launched in 1999. The data before that is just an average of a basket of currencies. I'm really not sure of its significance in the long term outlook. |
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