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  • #177,721
  • Jan 5, 2010 9:56pm Jan 5, 2010 9:56pm
Quoting nawafasad1
Attachment
This could be down abc correction completing wave 2 down of wave C up and now wave 3 up start here.
  • #177,722
  • Jan 5, 2010 10:19pm Jan 5, 2010 10:19pm
SEOUL (Dow Jones)--The Bank of Korea may have intervened in the local currency market for a fourth successive session Wednesday to cap a rise in the won, traders said. The central bank likely bought the dollar in small volumes at levels below KRW1,140, two Seoul-based traders said. It wasn't immediately clear how much the BOK bought, but on Tuesday some traders suspected the central bank had purchased at least $2 billion.
those who can, do. those who cant, talk about those who can
  • #177,723
  • Jan 5, 2010 10:35pm Jan 5, 2010 10:35pm
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
Quoting skiffx
I think we just completed extended wave 5 and going for ABC ...

Attachment
skiffx,

which charting package are you using?
  • #177,724
  • Jan 5, 2010 10:41pm Jan 5, 2010 10:41pm
Quoting wwwin
That's the Kiwi, not the US dollar. I don't think it had any effect on US dollar.
thanks for the clarification. it takes many bricks to build a house. but this was not concerning kiwi. it was s. korea.. a big u.s. trading partner.. but since you brought up kiwi they are having problems also. as well as many others... many foriegn central banks are buying usd each day for the past few days.

Upcoming U.S. data including employment figures and Federal
Reserve policy meeting minutes later this week will set the U.S.
dollar's course, giving some direction to the kiwi.
The kiwi dipped early in the session after dairy cooperative
Fonterra, which accounts for about 7 percent of the country's
gross domestic product, said milk prices fell by 7 percent at its
latest auction.

[EUR/YEN] yesterday fell to 131.49/44 after registering white candle sticks (higher close than open) for 10 days out of 11 in its uptrend began on Dec 18, and thus adjustment looks natural, and impression is positions are not fully cleaned up yet. 133.45 yesterday, 133.99 on Jan 4 and 133.61 on Dec 31 look like forming triple peaks at thhe 133's. The pair is back into the Ichimoku cloud (130.85-132.70) after its efforts to clear the cloud since Dec 31. There were some investors' actions to sell the Eur and buy the Stg for allocation switching last week. Minor stops are placed at 130.50.
those who can, do. those who cant, talk about those who can
  • #177,725
  • Jan 5, 2010 10:47pm Jan 5, 2010 10:47pm
Quoting gatorinla
thanks for the clarification. it takes many bricks to build a house. but this was not concerning kiwi. it was s. korea.. a big u.s. trading partner.. but since you brought up kiwi they are having problems also. as well as many others... many foriegn central banks are buying usd each day for the past few days.

Upcoming U.S. data including employment figures and Federal
Reserve policy meeting minutes later this week will set the U.S.
dollar's course, giving some direction to the kiwi.
[i]The kiwi dipped early in the session...
You are right, that is why I deleded the post. Well if CBs are buying US the last few days...and the EURUSD is beginning to go up, that bodes well for EURUSD once the intervention ends. Yesterday EU touched the highest since 12/17/09. This intervention is not doing much to EURUSD other then maybe keeping from going much higher
  • #177,726
  • Jan 5, 2010 10:59pm Jan 5, 2010 10:59pm
Which direction it will take is anybodys guess...
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  • #177,727
  • Jan 5, 2010 11:19pm Jan 5, 2010 11:19pm
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Quoting goodbadmas
This could be down abc correction completing wave 2 down of wave C up and now wave 3 up start here.
  • #177,728
  • Jan 5, 2010 11:21pm Jan 5, 2010 11:21pm
?
[EUR/DLR] keeps tight range between the morning high and low of 1.4371-34. Yesterday there was a speculation Greece might borrow privately through banks by the end of this month after jump in yields due to investors' concerns Greece may be further downgraded on rising deficits, and today the country faces first budget credibility test after EU officials visit Athens to scrutinize the government's proposal. Bids below 1.4330 and offers above 1.4400 remain unchanged.

last straw?
those who can, do. those who cant, talk about those who can
  • #177,729
  • Jan 5, 2010 11:22pm Jan 5, 2010 11:22pm
i think we r in wave 5 on 4h going down and we had zz correction of abcde
  • #177,730
  • Edited 11:36pm Jan 5, 2010 11:22pm | Edited 11:36pm
Quoting atif
Which direction it will take is anybodys guess...
can't tell but guess without direction as is zero inclination actually can break any direction.usually bear continuation and if normal pa it should go some up before the continuation ( if actually no wedge/triangle formed ) .repaint /update (due failure to bull in time once , next to try )down one.
fontu
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #177,731
  • Jan 5, 2010 11:25pm Jan 5, 2010 11:25pm
hello everyone... I think up then down
  • #177,732
  • Jan 5, 2010 11:27pm Jan 5, 2010 11:27pm
Quoting gatorinla
re-entered short @ 4360... extra 23 pips... i dont think i saw 37 on anyones radar here.. so others may either wait for trend to resume or exit who knows where probably lossing pips.. mine are locked in... so in reality its 23 X 2 = 46 extra pips.. depending on where your close trade.. maybe more.. but at least 23 extra.. this is why i use levels..had it passed 37 i may have missed the boat.. it happens.. but most of the time it does return...
Thx for the post...you guys truly do know your stuff. I've been following along and again thank you.

Donnie
  • #177,733
  • Jan 5, 2010 11:35pm Jan 5, 2010 11:35pm
Quoting skiffx
I think we just completed extended wave 5 and going for ABC ...

Attachment
wave 2 1.2500 to 1.5000 was completed in 5 waves

we may well be starting wave 3 with target 1.15 .. i have mentioned this as 900 pip drop started
Blogging daily now at www.volume.zone
  • #177,734
  • Jan 5, 2010 11:36pm Jan 5, 2010 11:36pm
Quoting nawafasad1
Attachment
I find your chart full of indicators which makes is confusing.
My two cents,
Yilmaz
  • #177,735
  • Jan 5, 2010 11:38pm Jan 5, 2010 11:38pm
Eu is testing for 1st support at 4345..maybe up 1st then go down

maybe....
  • #177,736
  • Edited Jan 6, 2010 12:03am Jan 5, 2010 11:50pm | Edited Jan 6, 2010 12:03am
Quoting malcolmb14
wave 2 1.2500 to 1.5000 was completed in 5 waves

we may well be starting wave 3 with target 1.15 .. i have mentioned this as 900 pip drop started
I think eu to still end 4rth wave & proceed for wave 5 of a of A correction somewhere at arround 38.2% fib 1.4112 or little below most probable 1.40 & bext B up to do.

sorry misunderstand , you are talking next very big wave 3 UP but that was the most controversal last few weeks but price has already come much below the imaginary wave 1 ( that should actually be wave B ) .
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #177,737
  • Edited 11:55pm Jan 5, 2010 11:53pm | Edited 11:55pm
Good Morning guys,

Very Intersting PA,
I am waiting for this hour close to decide my move.
Biased short side tho!

altho 4365 is probably for me looking like the best short entry point!

EEDDIT - Just saw gold charts and they look bullish to me, now this confuses me as gold and eu are correlated to an extent.
fontu/Grashid/TC whats ure take?
  • #177,738
  • Jan 5, 2010 11:56pm Jan 5, 2010 11:56pm
Quoting atif
Which direction it will take is anybodys guess...

I wouldn't consider that a wedge...at least not one that holds any real importance. In case I'm wrong, up wedges are bearish, and down wedges are bullish...generally speaking.

think of it this way. Out of 100,000 people, if gas is 5.00 a gallon in the US...how many people are going to buy it?....if gas is 4.50...how many?...4.00...how many....1.75 a gallon!! (good ole days)... now how many?..

The farther price falls, the more attractive it becomes to buyers

eu wedge 1hr
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  • #177,739
  • Jan 6, 2010 12:01am Jan 6, 2010 12:01am
in my very humble opinion
above 4360 is long.
below 4345 is short
thatsit,
next 30 minutes will decide
never run after pips, let pips just come to you
  • #177,740
  • Jan 6, 2010 12:02am Jan 6, 2010 12:02am
if 4373 is respected then 4411/12 may be a weak top..4373 may even be a weak top..nearest st number to 4373 is 4381 .. overshoot chart number
those who can, do. those who cant, talk about those who can
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