Eurusd/gbpusd - page 1810
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EUR/USD is in a state of freefall and dropped over 500 pips for a single day, breaking below the 1.1200 level. Next target is likely 1.1000, but I think that it will eventually reach parity.
I don't think that psychological levels are going to stop Euro now. This is like the black Friday that GBP had : nobody wants to buy Euro now. Until some major market maker steps in, there will be no correction
This won't stop before parity
According to analysts at Societe Generale, EUR/USD would head towards 1.08 levels if it breaks below 1.12.
Here's my elliott wave technical analysis for eur/usd:
i have counted plausible 5 waves of this last leg down. This would be satisfactory conclusion for this extended 5th wave decline (daily-circled on my labelling). If the bottom has been reached, next would start multiweek corrective move as wave 2 starts to form. Resistance for this correction should be found near 1.30 level. What do you folks think?
Resistance at 1.3? I do not think that we shall see levels 1.3 any time soon
It was clear that the free fall for the EURUSD will continue and next week as well
under normal circumstances I'd be more worried about Oanda long-short ratio of 60+% (EurUsd) but with what's been going on lately it has a lower priority in my normal trading but I'm not totally ignoring it
under normal circumstances I'd be more worried about Oanda long-short ratio of 60+% (EurUsd) but with what's been going on lately it has a lower priority in my normal trading but I'm not totally ignoring it
It is almost normal that Oanda ratios are counter trend on weekends. Profit taking (short positions closed over the weekend) pushed it into long area
It is almost normal that Oanda ratios are counter trend on weekends. Profit taking (short positions closed over the weekend) pushed it into long area
Nothing unusual : just shows that people still hope that there will be reversal
If Greek elections goes like predicted (if it does not get rigged like the Scottish vote), from Monday EU is starting to fall apart