EURUSD

Will EUR/USD come down to 1.5500 in Monday Eastern session?

A million dollar question.

maybe yes, maybe not who knows..... but I still thinking then we will see 1,52

What is your timeframe for euro to go to 1.52? After it hits new high first and then go down or straight down from here? What do you base your prediction on? Technical or fundamental?

Well, usually i don't tell what a currency will do because everyone know that nothing is sure, but... BUT THIS TIME

I say that it is obvious that moonday or the day after, we will see the eur reach 1.5750 area, we have a very nice headandshoulder pattern on daily chart completed just yesterday (neckline brokened), you can calculate the target with any kind of method you know, it remain still the same, we talking about 1.57-1.5750 area.

Also, the head and shoulder have accomplished with touching the 38.2% fib of the last upmove (that one started some month ago), so it is possible (not sure, just possible) that after 1.5750 a little retracement will be, then the run continue to 1.60 area, but this is just the eurusd..

Looking to the oil price (that usually is higly correlated to the eurusd, due to the fact that most of countries buy oil in eur) is looking north, everyday (or something like that) broke his high, the oil recently (2 days ago) touched the 38.2% fib retracement, and yesterday brokened the old high, pointing north to 161%, this will support the eurusd upmove (that it is already obvious from the eurusd chart).

P.s.
This post show the reasons why i think eurusd could go higher the next week, pls remember THERE ARE A LOT OF REASONS that exaplain also why it may go lower the next week, so don't take this post as advice, it's only a point of view about a currency pair, nothing more.

very nice analysis indeed.
Thank you

No offence my friend,but who cares what u think ? Only the price action is what matters..and the price action is underlined bullish

Classic Krit

How you doin? Why have you disappeared from skype? Too much booze and gals?

Observe the forest - not the trees ...

,

yeah

I hope no one's mortgaging the house on those longs yet.. Just because it managed to hit 56 on a Friday towards the end of the day doesn't mean it will continue to go that way. If it goes abve 56 and stays there for a day, that's a different story.

Buy from deep

but, where is the deep ....? hehehe

last candle on your chart is from future?

What means by that chart?

A few questions...
If the blue line is actual price, when did we hit almost 1.61?
Where is the data up to 16/5/2008?
What is software is used for forecasting?
Can it do weather? Our local weatherman can only get 4-5 days out with 60% accuracy.

Eur is on the move again... have to wait and see if this thing breaks 1.5650 again. If it does you have a buying opp if not we are still looking towards 1.53.

Possible move for week 05/18/08

EUR/USD

1.5750
1.5400

174 for the week

174 pip divergence / 5 days = 35 pip break

= 1.5610 go long broken resistance
1.5593 – 35 = 1.5558 go short

174 - 35 = 139 pip potential profit in place for this week