Kicking it off. I'm not sure why I'm even doing the forum anymore, but still kicking it off. I guess I do it for Marcin, rat, and the other guy, and the small handful of others who come in now and again...

Is this a time for the Euro to accelarate?
Very often, when one instrument finishes its move one can see volatility (and liquidity) switching to other issue.

Aussie sits at .8617.
If this area fails the next strong level is at .8578.

Comeback to .447 was enough? We will see.

Originally posted by MarcinO

Aussie sits at .8617.
If this area fails the next strong level is at .8578.

1.2495 - 1.25 is a significant area for the Euro.
Downsloping TL above is the one I mentioned in the morning.

Euro wants to go higher.

I don't know why I'm always shifted about two points with respect to your levels using the same data.
Today I reduced it to just one point . My top area is 41-43.

Originally posted by jimkane

Okay, this one is a lot 'trickier' than I indicated here. Most of what I'll say can be summed up, for those not skilled in this methodology, as 'okay, so somewhere...' There is an area here from 42.00 -44.50. Then below that there is an area around 38-40, and then there is an area around 33-35, but a key .300 comes in at just over 36.25, and the .382 overlaps a key level at 31.50. It really looks like two subharmonics there, but it could be one broader area from 31.50-36.25. Hence:

42.00-44.50
38-40
31.50-36.25 (33-35 the center of area)

When things are layered like this, it's sometimes hard to really see what the obvious area will be. It all becomes about price action, and the structure of the move on the way down. This one is a little tricky, but since the play right now is just down until it stops, the areas are more for management, then let's see what it does in the AM. Understand, I am not ruling out that it could be done in here at this first level.

Originally posted by jimkane

I'm looking around 38-40 next, although there is some stuff in here around 43-44 it must overcome first. Afer that I think it will try to test the level of all those swing-lows in the mid to upper twenties.

Good that I changed my mind.

Originally posted by MarcinO

Euro wants to go higher.

1.2577 is a potential resistance zone for Euro.

One possible scenario is that they want to reverse it below the TL so as not to violate a high at 1.2581. And the only purpose was to to test the lower line.

Over 20 pips reaction so far. 1.2535-40 is my first support.

Sums it all up nicely. When will 'we' ever learn...






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