EURUSD

EURUSD 20th December, 2013

As expected the euro moved towards the upside to reach our first target and exceed it by 20 pips.

Today we have two possible counts, one requires a temporary continuation of this upwards movement, and the other favors an immediate reversal towards the downside. Fortunately, our analysis today provides nearby points of confirmation for each count, and it should be noted that both have nearly equal probabilities at this point.

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

EURUSD 19th December, 2013

Today was quite uneventful for the euro, which was to be expected after such a strong movement, and which is also in agreement with our last analysis. Neither of our targets has been reached yet (although price came 20 pips short of the first target), so our expectations for the euro remain as they were yesterday.

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

EURUSD 18th December, 2013

The euro had quite a busy day. After spending most of it moving slowly and sideways within a 50-pip range, it suddenly pushed upwards, invalidating our alternate count by less than 1 pip, before immediately reversing downwards to invalidate the main count as well, and to move consistently for about 160 pips.

While this movement may seem chaotic, it actually revealed a clear pattern, which will be the focus of our analysis today.

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

EURUSD 17th December, 2013

Not much has taken place with the euro today. It moved in a sideways, overlapping manner and kept away from all of our target, confirmation and invalidation points.

The most recent movement actually opened the door for a few more possibilities. However, since it would be too much to cover all of them in one analysis, we’ll focus as usual on the two most likely counts while ensuring that our invalidation and confirmation points accommodate the other possibilities.

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

EURUSD 16th December, 2013

As expected the euro moved towards the upside to reach and exceed both of our targets. At this point both of our counts have nearly equal probabilities.

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

EURUSD 13th December, 2013

As expected the euro moved towards the downside to reach our target and exceed it by 28 pips.

Not much has changed with the details of our counts, although we’re promoting the alternate to be the main count, in light of recent momentum changes, as well as updating of our view of the daily count.

Today both hourly counts expect similar movement for the better part of the day, but they vary in their expectations for the movement that will follow.

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

EURUSD 12th December, 2013

The latest movement of the euro is quite in tune with our view, but it’s still not definitive. At any rate, both of our most likely counts today don’t expect very strong movement.

The euro moved downwards as expected and has reached the low of what we labeled as an ending diagonal at the end of this upwards correction. The downwards movement that came afterwards, however, does not yet look motive – although it could be a leading diagonal, which would explain its overlapping look.

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

P.S.: I’m extremely sorry for this unforgivable delay, but I was trying my best to fix my workstation and I just managed to get it back to work.

EURUSD 11th December, 2013

The euro repeated yesterday’s movement almost exactly, first dipping down a little lower, then pushing up to make a slight new high, before reversing towards the downside. Still all the evidence indicates that the euro is long due for a bearish reversal, even if only as a corrective decline, and it should ideally begin today.

Not much has changed in today’s analysis, except for the details of this final wave upwards.

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

EURUSD 10th December, 2013

The euro moved exactly as expected, first dipping down a little lower, then pushing up to make a slight new high, before finally reversing towards the downside. The euro has been long due for a bearish reversal, even if only as a corrective decline, and it looks like today we may see this beginning to unfold.

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

EURUSD 9th December, 2013

As expected under the alternate count, the euro pushed upwards to reach the target and exceed it by 3 pips. But the nature and the momentum of this movement still seems strained and weak, suggesting a change of tide may be quite near.

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

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