[Archive!] FOREX - Trends, Forecasts and Consequences (Episode 7: September 2011) - page 39
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I was saying that the indicator knows what Bernanke will say
I would like to remind you that we are not allowed to discuss (advertise) trading strategies, etc., but only information about the market and your vision (fa q).
New analysis in favour of a continuation of the EURUSD decline:
On the weekly TF the MACD indicator draws a microscopic histogram bar near zero, one more day of decline and this bar will become zero - the uptrend in the weeks is in the breakdown stage. If it breaks through, the goal 1.3750 will be not just lower but much lower, the previously mentioned 1.3660 (which is 61.8% of the momentum, so it is not a level that can be broken through immediately). The break-down is a done deal, in fact, the signal to sell has been generated.
One more analysis within the same weeks: a breakdown of the third line of the Fibonacci fan (61.8%) is confirmed. The breakdown of the third fan line is not described as a correction but as the start of a new trend.
Picture:
New analysis in favour of a continuation of the EURUSD decline:
On the weekly TF the MACD indicator draws a microscopic histogram bar near zero, one more day of decline and this bar will become zero - the uptrend in the weeks is in the breakdown stage. If it breaks through, the goal 1.3750 will be not just lower but much lower, the previously announced one - will it break-through, will it stay there at 1.3660 (which is 61.8% of the momentum, so it is not a level that can be broken through immediately). The break-down is a done deal, in fact, the signal to sell has been generated.
One more analysis within the same weeks: a breakdown of the third line of the Fibonacci fan (61.8%) is confirmed. The breakdown of the third fan line is not described as a correction but as the start of a new trend.
Picture:
Indeed, the fall is going to be fierce, unless countermeasures are taken, which the indicator warns about 100 points, though the daily chart shows that the fall is limited, for now, by the price value 1.3860, and further discussion of the situation in the appropriate and familiar to you thread, if there is any interest.
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Euro hourly chart down, what do you think to sell?
Worth a Buy at +350 and a Sell at -25 as of yesterday's close.