All Entries in the "Euro" Category
Elliott Wave Analysis of EUR/USD 19Aug2010
Elliott wave analysis requires the trader to have an open mind about what could happen. The wave principle is capable of giving you a road map. You follow the signs until you run into an obstacle, at which time you will be presented with another map. Unfortunately, most traders start with good intentions, but decide [...]
Medium Term Elliott Wave Analysis of EUR/USD
Long time followers of my Elliott Wave analysis know that I propose an idea, and then follow it faithfully until proved wrong. The value of this approach is it allows us to take low-risk positions, while always remembering that we could be wrong. It has been my view that the long-term target for the EUR/USD lies [...]
EUR/USD Elliott Wave Analysis 18 July 2010
My last Elliott Wave analysis of EUR/USD was posted on 24th May. When dealing with the bigger picture, I find it generally useful to leave the markets to sort out the minor squiggles by itself. For the corporate treasurer and hedge fund manager as well as other medium term players, the bigger direction is more [...]
Elliott Wave update EUR/USD Euro
Wave analysis is as much a work of art as science! It is constantly a work in progress. Yet we can get some very useful clues by spending some time with the charts. Take the Euro for example. We are at sort of cross roads. Are we going to rally all the way to 1.3600, [...]
“Nothing shameful about weak Euro” – FT
The Financial Times editorial of Monday 17th May is emphatic: a weak Euro will boost the eurozone’s export competitiveness, and hence should be welcomed. If this wisdom becomes accepted widely, then there need be no fear of intervention, and the markets could sell on every corrective bounce until the technical targets below 1.1700 are reached.
A non-technical update on EUR/USD
I am going to quote some comments by Paul Krugman: 1. “I’m not encouraged by the remarks of some of the leaders, who keep talking about protecting the euro as if speculation against the currency were the problem. Actually, a weak euro helps Europe.” 2. “When countries have their own currencies, they can deal with [...]
Elliott Wave Analysis of EUR/USD 11 May 2010
“Lending more money to already over-borrowed governments does not solve their problems” says Mr Carl Weinberg. The FX markets seem to agree, as the Euro is rapidly giving up a lot of the gains it made yesterday. Are we going to 1.1700 directly? Let us start by acknowledging that just about anything could happen. A [...]
Medium Term Elliott Wave Update on EUR/USD
Elliott Wave analysis is a powerful tool in your hands if you know how to use it. You cannot be blind to what is happening around you. Until last Wednesday, when the Euro was still at 1.2850 levels, I was looking for it to go lower still, perhaps even reach the L/T objective of 1.15-1.17. [...]
Elliott Wave update on EUR/USD 6May2010
When a significant target is reached one should step back and look at the bigger picture again. Elliott wave analysis of EUR/USD suggests that the decline from 1.5144 finished its first wave at 1.4216. The second wave retraced 38.2% only (suggesting that the next sell off could be a lengthy one). The third wave travelled [...]
Medium Term outlook on EUR/USD
The Euro has spent a month in a relatively narrow range. Allow for one minor rally to 1.3835 and then a big dump.
EUR/YEN will give you clues
Whether you are thinking of selling USD/YEN or EUR/USD, I suggest that you keep an eye on EUR/YEN. There is some initial resistance just above 131.10, but assuming we break above that, then a nice place to sell would be 132.55. But we may even experience some problems near 132.10. From between 132.10 and 132.60 [...]
Medium-term forecast on EUR/USD
One of the golden rules to follow is never make a forecast! That doesn’t mean one shouldn’t have a plan of action ready. What the pundits say is the market has a mind of its own, and you are very likely to be wrong if you attempt to say how far a move will go. [...]
Update on EUR/USD
The Euro has been in an uptrend for a while and looks it can reach the 1.3920/30 level this time. Observe how I have drawn the Fibonacci ratio from a top that has been cropped and placed in line with prior key levels. You could then seek other confirmations on where the initial target can be anticipated. [...]
How far can EUR/USD go in this run?
The Euro has come a long way from below 1.24, and is currently trading at 1.31 levels. The daily charts still point to further gains, but in the bigger picture, we still have one more short trade left. The perfect level for the short trade will be
Euro rally is still a bear market correction
The EUR/USD rally that we are currently witnessing is capable of going back above 1.3200, but I would urge caution above 1.3215