EURUSD

this is classic knock on door at 1.4. Anybody answering??

Buy dips, open a weekly and wait for the pips

Hi,

when we count with start end of big triangel in mid of upward wave,

then we get 65pips for wave 1 and 57 pips for wave 3

That's it!

3 can not be the shortest. Therefore wave 5 can only travel 56 pips max


And yes!!!

End of wave 5 max 1.4023

End of game for bulls :-) (if not, I have to talk some serious words with Unvles Elliott and Prechter

Penetration!


Waiting For Sterling To Fall
By Nicholas Hastings
A DOW JONES NEWSWIRES COLUMN


LONDON -- Time has run out for the pound.
The U.K. currency spent most of this summer attempting but failing to make a serious break over $1.60.
But now, as speculation over more Bank of England quantitative easing rises, sterling will fall back again.
See how the pound has held up so far:
http://www.dowjoneswebservices.com/w...RichMedia/4732Click Image to Enlarge
Not only is it likely to decline against the U.S. currency, which already reflects an increase in U.S. quantitative easing, but also against the euro, seeing that the European Central Bank is still talking about exiting, not increasing, the euro zone's unconventional monetary easing.
But, there is another very key imprimatur for sterling bears--the backing of the prime minister.
In his first official press conference Monday, David Cameroon made it clear that he is only too happy for the Bank of England to keep on easing policy.
"I've always believed that it is monetary policy that is a better lever in terms of trying to make sure the economy is progressing and demand is growing," the prime minister said.
Of course, there are still many, on and off the monetary policy committee, who argue that the Bank of England will not want to expand QE just yet.
On Tuesday, their hawkish view was boosted by the latest consumer price data, showing that not only did headline inflation stay "sticky" at 3.1% in September, unchanged from 3.1% in August, but that the country's core goods inflation rose to 1.3% from 1.0%.
Nevertheless, this shouldn't stop the central bank from starting to ease monetary policy now rather than later.
For a start, "sticky" inflation will soon fade given the high level of spare capacity in the economy as a whole, the continued subdued level of inflation expectations as well as the low level of wage growth.
At the same time, pressure on the central bank to be more pro-active in promoting growth will only increase as the financial markets wait for the Oct. 20 unveiling of the coalition government's plans for the harshest public spending cuts in decades.
Even before those details are known, the economy is showing signs of slowing faster than expected. The government itself appears to have acknowledged the economic risks by promising to introduce the spending cuts steadily over five years rather than all at the beginning.
This week, policy makers were given even more food for dovish thought with the latest RICS survey showing house price balances falling to a 16-month low last month. With more house price falls likely to come, the impact on U.K. consumer confidence as the country heads into the autumn will only be negative.
The BCC provided more gloomy reading with its latest quarterly economic survey from the business sector.
All this should tilt the arguments among MPC members and raise speculation that the Bank of England will resort to more QE as early as next month.
The pound itself, meanwhile, could prove ripe for profit-taking. Recent speculative data from the Chicago Mercantile Exchange showed that, despite all the summer talk about spending cuts, speculators have become holders of net long sterling positions against the dollar for only the second time in two years.
These positions will give the pound added acceleration on the downside if speculators now to chose to liquidate their longs.
Early Wednesday, the pound was up at $1.5847 by 0645 GMT from $1.5796 late on Tuesday in New York, according to EBS. The dollar was coming under pressure after the latest FOMC minutes confirmed that the Fed is poised to extend its quantitative easing if needed.
At the same time, Bundesbank President Axel Weber was remaining as hawkish as ever, suggesting that the ECB's bond purchase should now be phased out.
This helped the euro to rise to $$1.3949 from $1.3914 while the dollar also edged ahead to Y81.89 from Y81.74 as investors continued to look over their shoulders for more intervention from Japan.
The euro was also up at Y114.25 from Y113.47 as a rise in Asian stock markets suggested that the general market appetite for risk has improved again.
The pound could also be getting a little support from news that Standard Chartered is raising a GBP3.3 billion rights issue. "There doesn't appear to have been too much impact on the pound/dollar rate, which appears better bid more down to general dollar weakness than anything else," said Citigroup.

break out your short pencils, looks like we will head down,lol

didnt someone say asian central banks are selling at 1.4? wouldnt go long just on that

Maybe too risky decision a little bit, but we'll see.

And believe it or not:

On my 1min chart MM +2/8 P=256 is located exactly at 1.4023



No I am self impressed :-O

Risky too - sell @ 1.3992

for god's sake, can someobyd just put a billion lot order and move this alreaady!

Can anyone else see bearish RSI divergence on 15min?

asia closed down we go, lol

lET WATCH PRICE ACTION HIGHER LOWS TRENDY

i have that one at 1.4001, but it didn't get filled...

time to test 3970/73 me thinks

Yes, and MACD shows a bearish divergence on 15min

agree

done it.

That would move the rate by about 1% (~1.384 - 1.41). Which way would you like that ???

Powerm@n , i'm going to sell @ 1.3990 too , it's risky but
“The person who risks nothing, does nothing, has nothing, is nothing, and becomes nothing. He may avoid suffering and sorrow, but he simply cannot learn and feel and change and grow and love and live.”