EURUSD - Trends, Forecasts and Implications (Part 3) - page 796
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It may well be, entered the channel, but lingered on the lower boundary - there is a high probability of a decline
Markups of old woolfs, the figures themselves do not work any more, but the lines do. Can not break through the blue line for a very long time, one of the signs of a possible decline. If it goes up, the targets are orange lines. If it starts to go down, the targets will be lower wolf lines.
And in general:
Westpac currency strategists believe there are enough reasons for the dollar's weakness against other major currencies.
From their point of view, the low rate of the US currency is explained primarily by the fact that the Federal Reserve keeps interest rates at a record low of 0-0.25%, while other central banks around the world, on the contrary, are seeking to increase the cost of financing.
Experts note that although the news that Standard & Poor's cut its outlook on the credit rating of the United States did not have much impact on the US bond market, the US currency weakened across the board. The dollar index, which shows the development of the dollar in relation to the currencies of the 6 main trading partners of the USA, fell to 73,735, the lowest value since August 2008. The dollar fell to a record low against the Australian, and to multi-year lows against five other currencies.
Westpac predicts the dollar will fall to $1.50 per euro, 80 yen and 90 Canadian cents.
Societe Generale technical analysts believe that since the US dollar has allowed the euro to rise and consolidate above resistance at $1.45, the US currency could fall to $1.51.
According to the experts, resistance levels for the EUR/USD pair are now at $1.47 and $1.4830 and the Euro is moving towards the 2009 high at $1.5145.
The US currency has declined for the fourth consecutive day. Yesterday it beat a 16-month low, falling to $1.4648 per euro. The bank notes that the dollar's downtrend started back in June, when it fell from a high of $1.1876.
Good afternoon. Happy holidays.
Thank you for filling the information gap.
You have blue lines crossing at 1.69138 - what does this crossing mean, what is the meaning, what to look for, where to read?
I am looking for the Wolf waves, it is the second target when working out the pattern. Actually, I was suggested this pattern by Strenger, I searched and saw it somewhere, I can't say where, I don't remember.
I have seen it on the daily, but I only work on one pair so far, the rest I just monitor from time to time, so I don't make additional markings, the basic ones are enough.
the pound is falling without volume, there will be a correction.
the pound is falling without volume, there will be a correction.
Hi. 1.6350 is what I'm thinking of. Why did I draw blue rectangles on the screenshot?))) That's just the volumes on which it's falling.