FOREX - Trends, Forecasts and Implications (Episode 17: July 2012) - page 93
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
With Ms Galina, you'd get along.
I sing with another madam )))
Posted 03 Jul 2012 - 10:53 am
TEHANALYSIS: Euro/yen pair has room to decline to 87.67
Dow Jones Newswires column, by Francis Bray, Master Technical Analyst /MSTA/
LONDON, June 26. /Dow Jones/. The euro/Japanese yen pair is still targeting a decline to 91.82, the minimum required target level to confirm a strong downtrend.
Nevertheless, there is room for deeper declines, towards target levels unevenly located in the 89.50-87.67 range.
However, the downside path for the euro/yen pair will not be straightforward, as the Japanese currency is vulnerable due to the ongoing bond buying programme by the Bank of Japan and the Ministry of Finance. Earlier in the year this might have triggered a rise in the pair from 97.04 to 111.43.
Nevertheless, eurozone debt and economic concerns will have a more negative impact on the value of the single European currency, keeping intact the broad long-term downtrend in the euro/yen pair from the July 2008 peak of 169.97.
Details are shown in the monthly logarithmic chart of the euro/yen pair below:
http://www.dowjonesw...chart/view/5957
The structure of the downtrend, which has been going on for four years now, indicates that the individual waves were divided into two waves - at the lower high of April 2011 123.33 and the lower high of March 2012 111.43.
A bullish "rising triangle" pattern has been completed in the last two weeks on the daily chart, but this pattern was overturned by the weakening observed on Monday.
This negative trend in the Euro indicates that the number of investors betting on a declining Euro is increasing. This week a break below the reactive triangle pattern low of 98.71 is expected, confirming the June 21 reactive high of 101.63 and refocusing the market on the 11-year low of 95.59 reached on June 1.
The first projected target level is located at 93.37. However, investors betting on lower euro will be targeting the broader and more important target level of 91.82, projected from the lower June 2009 high of 139.26.
The rapidly developing nature of the impulsive downward waves compared to the weak corrective upward waves creates room for deeper weakness, towards the target levels of 89.50 and 87.67, between which the historic low of 88.93, reached in October 2000, lies.
Only a rise above the June 21 reaction high of 101.63 will weaken the euro's negative outlook.
As of 08.15 GMT the euro/yen pair was trading at 99.59.
The level of 101.63 is key. Its breach upwards would mean preparations for a collapse towards the levels indicated.
Who watched the show with Grigori Grigoryan it seems? ? What's your opinion? There's not much of a bounce up for the euro... Maybe for the economy to go higher in the future, but not for the euro.
So many people on the forum and everyone thought that the downgrade is in the market ... but no ... not in the market ))))
Minus $2300 so far... )) Let's think)))
"be kinder and you will be rewarded!!!"
And I don't have a car anymore. I'm coping too. ))
Nice picture. : )))
ZS: How many people have lost their deposits today?
It was not possible to lose).
Starting with m1 and up to n1 there was no signal up, only down
must get down on their knees!
It was not possible to drain)
From m1 to n1 there were no signals upwards, only downwards
So did you buy on the downside? Or I don't understand the picture.
Yes, saw a possible pullback of 40-50p, left it for tomorrow (~15,-20p to close).
Did I "recommend" anything to you or anyone else? If your eyesight is bad go to an ophthalmologist, I told you a hundred times I'm just giving my opinion and I'm not recommending anything.
Ishim, if you don't catch 10 pips, you feel defective, and I'm not even talking about the moose, although your pamm speaks for itself.
Instead of writing about my eyesight, you'd better think about your memory: who wrote that kickbacks should be used for refills? Never mind, it's your own fault.