Kingsford, i like your count.

Elliott wave outlook

I was expecting 1.3475 retest... a spike might get us there, but PA seems to be experiencing gravity for the first time in a long time!

EurAnalysis

The two charts may both be correct since EJ can go down with the EurUsd if (and only if) UJ remains sideways. UJ's bigger factor influence in the cross equation EJ = UJ * EU means it normally leads EJ, but if it remains fairly flat... anyhow, i'll ...

EurAnalysis

thanks for saying, PT well, you know, those descending waves look like impulses until you try and put labels on them... which then require extended waves in places and then the correction is correcting what: the containing impulse or the ...

EurAnalysis

a wacky diagonal count for EJ: image

EurAnalysis

a diagonal count for EJ: image

Elliott wave outlook

marctomarket bottomline: "If our assessment is correct, those looking for tapering tells will be disappointed (again) and this could weigh on the US dollar, at least initially, and may give some of the emerging market currencies a bit of a respite. ...

EurAnalysis

thanks for sharing, redteamgo I'm limited to the S&P500 CFD offered by Oanda. It's a bit dodgy (sometimes doesn't correlate to the cash index and has pipettes) but it pays which is what matters. You mention AUD - seems the bounce has begun, but I am ...

EurAnalysis

thanks for that. risk-off is definitely going to become the new retro in-thing - it would make sense that those correlations re-emerge, eh? I'm still holding an S&P short (target 1640) and if the USD starts a risk-off rally I've got a short harpoon ...

EurAnalysis

hi PT! well, I tell you, the chats are sending mixed signals: EU says USD spike down and then massive rise, UJ says expect a prolonged (week+) drop in USD... if i have to go with one i'd say EU, but tonight will reveal all (or nothing!)

EurAnalysis

it is what it is the only alternative is that the entire structure is wave1 of an even bigger diagonal/triangle, but it meets all the EWP rules for a contracting diagonal so a correction to at least 1.27x is in order. The only caveat is that wave 5 ...

EurAnalysis

yep and USD index is heading down strongly. evidently so, alien, coz if it was going down it would have done so the past 2 weeks: failed H&S, indicators emitting steam, wavecounts screaming down...

EurAnalysis

Alorente, well if you put it like that... Good points. i agree with your Dollar is King argument. However, just prior to making an upward trajectory, I believe it needs to go tag 79.x, before closing "the box". USD strength may be the ...

EurAnalysis

German PPI forecast 0.2, actual -0.1 and EurUsd up 90pips... So if the Four Horsemen of the Apocalypse showed up at the EU parliament, the EurUsd should instantly gap up to 1.50? edit: update - June EZ construction output +0.7% vs -0.3% prior m/m ...

EurAnalysis