EURUSD Long Term

While a change in details is in order, the euro moved towards the upside as expected under our alternate count to reach both of our targets and exceed them by 3 pips.

But despite the strong rally, it’s probably wise for the bulls *not* to get too excited. Judging by the structure the market seems to be moving within, it’s very likely that the rally is nothing but a trap for the bulls.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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EURUSD – Do Not Fall for the Bull’s TrapRead More »

The euro moved precisely as expected last week, first moving lower in a temporary sideways correction before pushing higher to complete the diagonal we discussed in our last analysis.

Price has been making higher highs and higher lows for a while now, suggesting that an uptrend is likely in place. However, this upwards movement is overlapping and not very consistent, so the verdict is still out on this point.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

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EURUSD – Is the Euro Getting Weaker?Read More »

As the euro moved higher past the 1.3738 level, it has invalidated our previous main count and led us to entertain a much more bullish possibility, in addition to our previous bearish one which is still valid.

It’s probably wise in times like this to wait on the sidelines until the market sentiment is resolved and better indications are available.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

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EURUSD – Times of IndecisionRead More »

Last week the euro pushed higher still, showing that the upwards correction still had more to offer.

However, there are signs that the euro is facing strong resistance at this point. Will it be able to stand its ground, or will the euro give up the fight?

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

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EURUSD – Will the Euro Give Up the Fight?Read More »

As expected last week, the euro moved towards the upside in minute wave ii, and is now gearing up to resume its fall within the third-of-a-third wave downtrend.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

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EURUSD – In Anticipation of a Free-FallRead More »

Last week the euro moved towards the downside as expected and reached both of our targets — but then it took a strong nose-dive and shot right through our invalidation point as well.

Technically speaking, it’s still possible to continue with our previous count with just a minor modification to account for the recent movement. However, a number of technical and sentiment indicators are beginning to turn well in favor of the triangle scenario, which also accounts very nicely for the recent movement, so it seems the time has come for us to adopt it as well.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

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EURUSD – A Triangle on Its Last Leg?Read More »

Last week the euro dipped a bit lower and came within 20 pips of reaching our first target, before reversing strongly towards the upside.

While there are several interpretations for the medium and long-term trends, they all share very similar expectations for this week. So we’ll focus only on the most probable count, while keeping track of the other possibilities and the developing market behavior.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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EURUSD – Uptrend StallsRead More »

Last week the euro moved in a way which more closely resembled our alternate count. It moved slightly higher before reversing towards the downside to make a new low.

Does this mean the euro will continue its downtrend, or was this a false break?

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

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EURUSD – 5 or 3, Down or Up?Read More »

As expected the euro moved towards the upside and came midway between our two specified targets, before completing our expectation by reversing towards the downside.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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EURUSD – The Upwards Correction Continues?Read More »

As expected the euro moved towards the downside to reach and exceed our first target.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

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EURUSD – Nearing a Temporary BottomRead More »