EURUSD

dollar yen 5 pips from 15 year record!!

Checking usdx as to why eu not moving , wow! how it can at this weekend to take great decision of breaking the tl ?bear and continuation knocking ( tested already without reaction, silent consent for the action / the last door usdx . still on tl at 77.13 ,now 77.18 and can expect at least it broken 77.06 support or low before the new week to come today .so bull eu is very promising next week.
lets see .
fontu

LOL Elliott had a heart for surfers :-) Daily candles are better for stress free surfing

I can share your observations. When an Elliottican is able to get a long lasting impulse, forecasts are very easy and precise and one could earn a wealth of money. But it is difficult to keep the money in large corrections :-(

Therefore I trade corrections only with a small amount of money and jump inn with both feeds when I get an impulse.

3952/3955 is key. I have us in a Leading Diagonal down as my main count, but I am on a verge to get invalidated. With a move above 3952 I will discard the LD and conclude that we are in a wave 4 action. Yes, there is still a chance, that it is a LD. <in this case we are in a Wave 3 down, with the Wave "A" ready, and now are in a huge Wave "B" up. The first leg up of this "B" Wave has already retraced 62% of the downmove. <but to stay with this count, when we retrace higher might be a case of leaning against probability.

We will see.

Best to you from Frankfurt,


Markus

Just positioning for next week. Pair wants to close around 1.3952.

Last dip for today at 1.39

Out! good weekend all...

I expect volatile pa next week ahead of FOMC, but probably still rangebound 1.38xx - 1.40xx. Maybe pro money pushing E/U down on low vol - then a hard USD sell-off on jumbo QE2 - probably pushing up to recent 1.41xx high or better. The following week the currency wars are back with a vengeance and we could see BoJ back on the scene threatening jumbo intervention of its own as U/J slides under 80.00....

I will probably be trying to buy dips.


http://www.reuters.com/article/idUSN...9?pageNumber=2

"With growth steady but unimpressive and inflation pressures very benign, it underscores the Fed's most recent message and their concern with the inflationary readings," said Vassili Serebriakov of Wells Fargo in New York. "I do think it confirms and perhaps reinforces expectations for the Fed's quantitative easing move next week."

"The BOJ advanced its next policy review to Nov. 4-5, right after the U.S. Federal Reserve meets, which markets took as a sign it was ready to act swiftly if the outcome of the Fed's Nov. 2-3 meeting triggered heavy dollar selling."

Off to school and in long since last night... anyone else have a target of 1.4060 roughly?

Enjoy your weekends everybody........ watch those zone...........

Enjoying usdx pingpong all amost the supports as they beconing resistance next.
Gold is best trading , bought at 1323 , now 1357 , small position , no close before 1400 perhaps .
fontu

I have just updated my alternative count on my blog, in case you are interested.

Happy weekend to all of you,

Markus

And silver looking for 25 again

Look at Euro index..............

the bad news about europe happened in 1992

Guys do you agree with this???

Only 25! that may even get by today!! they want it more precious in future .
fontu

I hope u not right
What know is if the second wave ends we should see low volume confirmation, this is most important indication of ending wave 2. U will find it in all History and is key factor of EW theory. I thing lot of people dost have patience to wait and jump up. Secondary, next week is important week for energy contracts (not sure if also for other commodity), we close all deals for next year and for US is good to hold dollar low, all contracts are normally in USD and the governments will win double I thing this is ground for this time game

have u snow there? I have couple of friends living in Frankfurt (near Luan Krasnigi), normally I am living in Luzern.

Munal, either way, its not really a bull pattern is it?

arrrrrr

Hello Munal,

thanks for pointing at the Euro-Index. Very interesting.....

Have a nice weekend,

Markus

I agre with You. Symetrical triangle is continuation pattern, so we should go up