EURUSD - Trends, Forecasts and Implications (Part 1) - page 135
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But there are some more factors to check after all observations: sometimes the sixth wave split into two or three zigzags, which is also important for making the right decision.
There is a moment when we know the movement is complete but it is impossible to determine at the lowest timeframe that the movement is over... That is why we should develop exactly the same system for tick data only...
intraday inputs - outputs
Here's another thing I discovered...
Practically the forecast has to go along a certain line if it doesn't, it has to be offset...
I.e. there should be a pullback or consolidation now...
I.e. there should be a pullback or consolidation now...
I got a picture like this.... Will we go to 1.4602?
VTB:
So, yesterday the euro, which rose to 1.48 during the day, slipped sharply in the evening and collapsed by almost two figures to a low of 1.4613. In the meantime, the price of oil plummeted to 65.58 per barrel of WTI. The Dow Jones index fell 0.42% to 9707 on Thursday. The analytical newswires write that the sharp reversal of optimism was caused by poor data on US secondary market home sales, which instead of the forecasted 2.1% growth showed a 2.7% drop in the number of houses sold. However, today the Dow futures showed a 0.37% increase, oil corrected to 66.54 and the Euro was rising to 1.4719. In spite of that, we state that our expectation of an acceleration of the euro has been defeated. Instead, the euro was clearly halted after the publication of the latest rate decision and appears to be trying to stabilize in the 1.46-1.4840 corridor. In any case, the Euro has already been quickly pushed back below 1.48 twice after trying to break up, and today the Euro bounced back from 1.46 for the second time. We now believe that locally the big players will buy back the liquidity wasted on the last two impulsive down kicks and the Euro will approach the upper boundary of the corridor once again and exceed the 1.48 mark, and then go down again. It looks like the delay, which we estimated at 1.50, has already occurred. However, we maintain our view that after a few swings in the band the Euro will go back up towards 1.56. However, a start of a descent already from the current levels would mean that the Dollar will be too high in the coming months for the target of support for the American producers by a depreciation of the Dollar to be achieved. It should be noted here that scared by the housing sales data, the markets did not notice that yesterday initial jobless claims in the US have already fallen to 530k, which means that there is improvement in the US even in the most problematic place, the employment sector. This makes it all the more necessary to devalue the dollar so that the products of a recovering economy find demand.
Who has any thoughts before the end of today's trading? Shall we stay in the corridor?
I.e. there should be a pullback or consolidation now...
Look at the pounddoll, good 15min, I want to check my calculations on your system