You are not drawing lower trendline correctly, redraw it running it across extreme lows & see where it takes you, you will see that current lows of 1.34 are way above it & not on it as on your current chart.

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And here's your Elliott count, where's number V? url

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You are making an error by drawing lower trend line to suit your bias, if you run it properly along the actual lows you will find that it rests below current lows of 1.34 zone and with weekly chart not finishing its bearish phase one can expect new ...

EURUSD

Elliott Shmeliott...Eurozone is in rather sticky situation, that's evident from posted articles, before you can start singing hymns praising the birth of a new bull in Euro you will have to wait for weekly chart to become bullish which it ain't. Now ...

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RSI can remain oversold for a substantial length of time without price making a reversal, I am not talking about fibs or squeegly lines, but about market 'mechanics'

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Let's dig out this post next fall amigo, I say USD will rock.

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CHF is relatively small market in comparison to Euro, so CHF aint't going to rattle USD index that much. And don't bank on stock markets going higher like there is no tomorrow, you can wake up one morning to a -5% open

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Rounded top is one thing, rounded bottom is another. Markets tend not to fall of a cliff immediately when trending upwards, but they do need phase 3 to complete a down trend, which in Euro hasn't taken place.

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And CHF is part of EUR since?

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Golden Sacks are smoking pot saying Euro will go to 1.45, it will fall of a cliff before it gets to 1.4, 1.45 my a$$!

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Yes

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Obvious attempts to reverse trend on Daily chart, but it is a smaller chart in comparisson to weekly one. Since weekly is nowhere near ready to roll over it's trend attempts on Daily will be limited, once options expire I think will be the time when ...

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Great, now do it with real money

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1.24

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Kingfisher very good post

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what's wrong with wider stops when trading weekly chart?

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Keep an eye on monthly February bar, highly unlikely high will be breached.

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That is where key average on weekly is & it got pushed back from it hard last time Euro was selling off & bounced

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and you are?

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Check out this chart in USD, it is bouncing of resistance, but trend on weekly chart is bullish nevertheless (bearish in Euro). Anybody holding short Euro must be prepaired to either close & re-enter later or better still to have been ready for a ...

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