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FXE

EURUSD - EuroCurrency - Daily - Uptrend in Tact + ForecastI have drawn out a guess for how the EURUSD will advance back to the 1.13-1.14 area. I draw reactions from clusters of time and where there is low time and draw a progression of about 16 days similar to the number of days at the mode across March through April. The secondary reason for this chart is today's "Range Expansion Down Day" that started from a "HIGHER LEVEL" than the last one (marked in a Purple Triangle). If you get aggressive selling at higher levels, then the market isn't controlled by the sellers, rather the buyers are in control and the sellers are "hoping". For those of you new to trading, always keep a close eye on what news is due and watch how the market reacts to it. You can tell how strong a market is by how it reacts to news. Bull markets have small down days on bad news (or even a small up day) and rally strongly on good news days. Bear markets reveal downward price action on good news (or even a small up day) and move down strongly on bad news days.
Long
by timwest
31
Follow up on long term US dollar indexMy previous guess at the course of the dollar was wrong with the long term down trend line and the 50% retraction not effecting price action. I have changed my perception of the formation that has formed. Now we are near the .618 retraction. From my EWT count (always subjective) we are at the 4th wave of lessor degree which supposedly is a good spot for a correction to stop. We are at the channel line the way I have drawn it. The RSI is higher now than anytime since 1991 but price is not (negative reversal). All you correct bulls have had a great week. But I'm looking for a possible reversal soon. Have a great week. Goodguy.
INDEX:DXY
by goodguy
1
FXE: Weekly Linear Euro about to turn?Folks on this site seem to know a lot more about currencies than I do. But here is how the euro looks to me. In EWT (which I recommend you NEVER use by itself) one form of consolidation in a correction is A,B,C with the B wave a 5 wave triangle a,b,c,d,e. I think that is what we likely have here. Often the C wave is some Fib relationship to A such as C=A, C=.62X A, or C=1.62X C. In this case we are close to the A=C. We have a nice channel. We have a bullish divergence in the RSI/ROC. Have to wait to see how it develops and wait for a price action trigger to see if correct and turns bullish. If interested in playing the bullish reversal there is a 2X ETF: ULE. Have a great weekend. goodguy.
AMEX:FXE
by goodguy
Euro completed major measured move and reacted to major TL test.Natural area for the EURUSD to consolidate and digest the recent major down move. H/S target achieved at 1.30158 and price bounced off major down trend line that has defined pivot areas of supply and demand since 2013 (dotted black line - see shaded circles for times that price has pivoted off of this line. Would not be surprised to see a counter trend covering rally develop soon to squeeze late to the party short sellers. Look to reset short sales at 1.3015 and ideally 1.32-1.3250 range
by MaxxPayme