EURUSD - Trends, Forecasts and Implications (Part 1) - page 783
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Does anyone have any Rudolf Axel resistance support for the near future?
I think I found something myself, maybe Axel is printing there too
http://www.fxramark.com/dj.shtml
and here's an index
http://usd.ucoz.ru/_fr/1/Axel-Level.rar
I suggest thinking about the fact that yesterday's rate decision did not lead to any further trend movement.
Doesn't that mean we will go up in the next few days?
I've already bought with a short stop.
Yes, I am from the future. The nearest target is 1.4615.1.4485 (IMHO) is closer. But if 1.4615 passes, it will go further to 1.47
Agreed. With a breakdown of 1.4590 and an exit above 1.4600, which corresponds to the breakdown of the descending channel on the hourly chart, the probability of rise to 1.4700 -1.4730 is very high. Otherwise, we go down, break through the monthly support at 1.4480, after that we correct up by 200-250 pips and go down again with the target at 1.3800
Look, are you on Elliot too? :)))))))))
No. I manually mark up the charts. It's kind of like a graphical analysis...
Well I'm manual too, and so are the charts. But I stick to waves, though...
Well, the main thing is to make money. All other talk is for the benefit of the poor.
Fibo
Waiting for the outcome of FOMC meeting
Published at 15:15 on 16.12.2009
By this point nothing has changed in the market, nor has the approach to trading. The activity on the FOREX market ahead of the outcome of the US Fed meeting is minimal.
There is not enough potential to break through 1.45 yet. The question is: Will it be enough? The weakness of the single currency is due to both internal E-16 problems and investor interest in the US dollar. Most fundamental factors suggest that the dollar will continue to appreciate. For instance, the widening spread between European and U.S. government bonds in favor of the latter, thus increasing the investment demand for U.S. bonds and indirectly causing additional purchases of the dollar. The year-end factor, when a part of investors diversify their investments, getting rid of too risky assets in favour of the dollar, also plays its role. There is also a factor of possible increase of the interest rate in the USA, as the latest positive data from the USA will make the Fed to finish its stimulation programs sooner than it was agreed earlier.
Bernanke, on the other hand, recently reiterated the need to keep interest rates low for a longer period as higher cost of monetary resources could kill the economic recovery. However, he may change his mind somewhat in case there are enough opponents at the FOMC meeting taking place now. However, before the second round of Bernanke's re-election as the Head of the Fed, he is unlikely to make extraordinary steps in the American parliament to change the monetary course, and even to tighten it.
Thus, it is the outcome of the Fed meeting that is the weak link in the current market sentiment in favour of a further strengthening of the dollar. If market participants do not see anything in the report that can give further support to the dollar, a sharp and rapid reversal and the dollar will go back to the levels of two weeks ago is possible. However, a possible different nature of the text will certainly help the dollar, such as hints at a rate hike in the first half of next year or at least the possibility of such a move next year, mentions of an imminent withdrawal of stimulus measures, concerns about inflation risks, looking for ways out of the current quantitative easing policy and so on. But in the current situation, the Fed is likely to limit itself to generalities and will not announce a policy change, leaving this difficult topic for later meetings. Then the interest rate differential factor will not support the American currency any longer. But if in that case the losses of the dollar will be minimal, then we can talk about really quite strong uptrend of the "American".
In conclusion I would like to quote one analyst:
"The strengthening of the dollar is a short-term phenomenon, but this movement is not over yet. On the latest news from Dubai we saw profit taking on the dollar, which caused the euro, the pound and the Australian dollar to strengthen. But these currencies can't continue their strong gains. I think the euro/dollar pair will fall to the 1.45-1.44 level in the next couple of weeks. Then we will see a rebound and the dollar will continue its long-term decline," Peak6 Investments analyst Kevin Cook told CNBC.
Analyst of FIBO Group, Nersesov Michael
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