07Nov

Week of November 7, 2008

EURUSD’s corrective rise from the October 28, 2008 low at 1.2328 reached the 1.3298 objective mentioned in the Octover 29th update, as ONLY a daily open and close above 1.3298 will complete the 3rd wave fall from the September 22, 2008 high at 1.4866 while 1.2328 holds.  The medium and broad term trend remains to the downside, however, since […]
05Nov

Week of November 5, 2008

EURUSD remains in a consolidation phase as evidenced by the choppy price action witnessed during today’s European session.  Such phases are a normal part of trending markets and are accompanied by higher than normal market risk. During such phases, the best trade is often a no trade, as risk for loss is higher than normal in a consolidating […]
03Nov

Week of November 3, 2008

EURUSD’s corrective rise from the October 28, 2008 low of 1.2328 reached the our intial objective of 1.3298 on October 30, 2008, but has since moved within the 1.2697-1.3298 consolidation zone as mentioned in our previous update.  EURUSD briefly probed below 1.2697 on Friday but failed to sustain prices below 1.2697, as a sustained break of the 1.2697-1.2926 consolidation […]
30Oct

Week of October 30, 2008

EURUSD’s corrective rise from Wednesday’s 1.2328 low has reached the 1.3298 target mentioned in our previous update, however, as previously mentioned, only a daily open and close above 1.3298 will complete the fall from the September 22, 2008 high of 1.4866 while 1.2328 holds.  As to the current corrective rise from 1.2328, this wave remains active and only a […]
29Oct

Week of October 29, 2008

EURUSD made a dramatic move to the upside during yesterday’s late US session as Wednesday’s daily close at 1.2805 suggest risk for further upside targeting 1.3298, however, a daily close above 1.2962 is needed to  add further confirmation to this outlook.  The medium and broad trend firmly remains to the downside with any move to the upside as a correction […]
27Oct

Week of October 27, 2008

EURUSD’s dramatic fall continues and has reached 1.2335 as of this writing.  In our August 21, 2008 EURUSD update, we said “as with the medium term trend, there is risk for a much deeper correction in the broad outlook with prices targeting 1.3054 in the months ahead, as a monthly open and close below 1.3054 […]
23Oct

Week of October 23, 2008

EURUSD has reached a low of 1.2726 during late US session Wednesday, just 15 pips shy of the 1.2711 target mentioned in the October 6, 2008 update.  As to the current fall from this week’s 1.3529 high, only a daily close above 1.3033 will complete this fall while 1.2726 holds, as prices will subsequently move within a 1.3033-1.3223 consolidation zone before another attempt […]
21Oct

Week of October 21, 2008

EURUSD reached 1.3054 during today’s late US session as this was our forecast sited in the August 21, 2008-8:00 GMT update. On August 21, 2008  we wrote  ” But as to the next potential move to the downside, this move will be explosive as supported by high volume and strong momentum, as such a move will initially target 1.4358. Similarly, as with the medium […]
13Oct

Week of October 13, 2008

EURUSD reached 1.3258 last week, a few pips beyond the 1.3321 target mentioned in our August 21 update, as intraday studies suggest further upside potential towards 1.3660 as prices moved to 1.3623 in early Asian session today. Look for initial bids ahead the 38.2% of the intraday 1.3258-1.3623 rise, while to the downside, below 1.3414 […]
08Oct

Week of October 8, 2008

EURUSD reached 1.3442 low on Monday, as the outlook remains for 1.3054 target mentioned in our August 21, 2008 8:00 GMT update (please read). As to the intra day outlook, prices are consolidating from Monday’s 1.3442 low as a 2 hour open and close below 1.3559 confims prices are once again moving lower with 1.3442, […]

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