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The following is a long-term Market Profile analysis I did whixh was posted in May on FF. The long-term view still holds.
EURUSD - Page 6598 @ Forex Factory
May 21, 2009 7:31pm
notch
The market really doesn't like these levels. Historically, it has spent a very short amount of time here. Historically, both both parties have agreed that these levels do not represent value but since the auction process caused an upward distribution from the following levels 1.35503 to 1.36013 on numerous occassions we favour demand being cut once price has been bid up to 1.46209.
Once 1.46209 has been achieved it is likely that there will be period of consolidation between 1.36905 - 1.46209. However, the auction process is likely to continue in the upward direction ultimately seeking market symmetry at 1.54876. The move from 1.46209 to 1.54876 is likely to be very rapid after which a fall back to 1.46847 is expected. There then should be a push to 1.56661 at which point excess supply is likely to enter the market.
LONG TERM the auction process rejects the levels between 1.36905-1.56661 and seeks balance between 1.20590 - 1.27728.
I can't give you time & price without digging into by Fibbonnaci time lines.
THE ABOVE IS STILL RELEVANT!brother nice to see you back miss you ill watch your no 1.4620-1.5666
week no.gu 6694 hit tp2 40p
6694 hit tp3 40p
good morning all week no.4999 4939(+-3)-gu 6754 6694(+-6) have a green week
week no . 4939 hit down tp1 50p
Hi Avi!!! I am glad that you are doing very well!
thx. whats your pl or ph for the week??
thx. Whats your pl or ph for the week??
1.5113
1.4814
brother nice to see you back miss you ill watch your no 1.4620-1.5666
1.5487,1.5666 end of the year??
1.5113 1.4814
thx .great ! waitting for you pl,ph tomorrow!!!!!
thx .great ! waitting for you pl,ph tomorrow!!!!!
do you see i wish you evry week great weekend??
week no . 4939 hit down tp1 50p
4939 week no.hit up 50p
6694 hit tp3 40p
6694 week no hit tp4 50p (from 6694-6877 183p)