₦airaland Forum

elyte:
On Eurusd

On 21st November, I did an analysis on Eurusd, when I discussed about an expected move of Eurusd down to the support zone ( 1.2150 and 1.8850) if the intraday zigzag channel is broken downward.
Price broke the channel mentioned above and is presently retracing to the neckline of the channel or ( 50% retacament of the intraday wave 3 to resume the bearish move to the expected zone before deciding what to do next.
If the present retracement happens to break 1.2600 upward, the bearish analysis is invalid
I presently have my pending sell position at 50% retracement of the most recent intraday bearish move

You can get analytical charts on Eurusd and the new update on Gold with analytical charts at www.forexsnipper..com

Don't forget Usdcad.....Analysis coming shortly....

youngmega:
BOss elyte I throway cap for you with your analysis ...to throw more insight on EU ..
On Monthly tf ...
Price will get to the support zone and move there are two possible scenarios either price breaks the support and Head down or it moves up after the completion of triangle price will make a Bulling swing ..For up to years to complete the triangle set up(not triangle is either price move up complete the 9wave traingel or it moves down to (Y) to complete a double threes) ...

On 4hr tf after the completion of the diagonal triangle price makes a downward wave 1 ..and will be making a 50percent retracement to complete the wave 3 move (lot of pips) ....down to the monthly support Zone ...
Stay tune ... Price is the key make we follow bumper to bumper



@youngmega @mzeevick

elyte:
My View on Eurusd

Eurusd has engaged itself in a very fierce bearish movement from April this year. This move is to complete the triangle corrective pattern which started in June 2008.

With this correction we are likely to see eurusd dipping further to strike the support line of the triangle or penetrate for a little throw-under and move immediately back to the triangle zone. Price should be contained within this region ( 1.2150 and 1.8850) if the long term bullish move will ever resume for probably the next decade.

In the daily chart, the move from April 2014 is a very bearish impulsive move with its last wave forming and looks uncompleted. The 5th wave could take us to the regions I mentioned above.

Presently market is consolidating within a zig-zag (4 hour chart) corrective channel, 4th wave of the wave 5 0f 5 mentioned above. If price breaks this channel downward, (1.2150 and 1.8850) region will be the new haven of eurusd and we shall watch its reaction there ( bounce or penetration)
If price breaks above 1.2600, price could be ready for a long bullish move and we will require a new short term analysis to decipher the message price is passing across to us.

Get the full analysis with analytical charts of the weekly, daily and intra day time frame at www.forexsnipper..com and bookmark it

honeric01:
Gold took out my Sl, now returning to its normal destination. Sucks

elyte:
My view on Gold...If the flag formation is broken upside... We might see further upshoot to 1220 or thereabout before the bearish movement continues......
www.forexsnipper..com for analysis

wierdpsycho:
what charting application do u use