EUR USD Daily

[tu]

Another possible target at 1.4716 which was the high on the 18th of December 2008... also near another fib... the 127 fib extension at 1.4728....  A-1.2887/B-1.4337

Looks like it's next on the bull run list.

[tu]

Posted by Black Knight on: Wednesday, September 09, 2009
  
"I'm personally tracking a weekly Fib, with A at 1.2455, and B at 1.3735.  We just hit my long-term 161 Fib target yesterday at 1.4526.  Next I will be looking to see if we can hold this new level as support or not.  If so, the 200% bonus round could (eventually) take us to 1.5014 - if not, we could be headed back 1.4223, as that's been the key level throughout most of the summer."

OK, here is a visual for that... give or take a few pips.

[tu]

Posted by: tu : Friday, September 11, 2009

Another possible target at 1.4716 which was the high on the 18th of December 2008... also near another fib... the 127 fib extension at 1.4728....  A-1.2887/B-1.4337

Looks like it's next on the bull run list.

----

And here is the fib setting for that assessment.

[tu]

---

Edited:

With the beginning of a new week, we now have a new Weekly Pivot Point...  at 1.4528...
right at the 161.8 fib, making this support even stronger.

[tu]

[tu]

Ok, we have our December high and 127 fib extension reached.



http://fx-knight.com/smForum/index.php?topic=547.msg3766#msg3766

[Black Knight]

 
Congrats!   

[silentstrategies]

Hey BK and All,

Tu is tearin' it up with analysis!  Nice.  May I offer a longer term view for your review?  Gracias.

Based on attached chart in .doc, does anyone doubt 1.6000 on the EURO.  How about 1.700?

Based on several theories:
- EW- third impulse wave will exceed previous
- Price loves the second Knight containment band on each impulse, so why would it not yum it up on this next wave
- Price loves fibs and trend lines

Glad my vacation is planned for Wimbledon 2010, as the dollar will do better against the pound than the euro...  Which brings up another topic...no one has commented in the Trading Psych since I left?   I saw Del Potro coming to beat Feds 12 months ago, did you?  There should be a TennisForex mkt as I would be bangin it like Soros!

[tu]

Not to override the previous post, but was compelled to put up another picture the amazing fibonacci
target extension areas being reached with the typical ABCD completion this week on the EU.

This picture is an update of the one done on September 13th... http://fx-knight.com/smForum/index.php?topic=547.msg3766#msg3766                 
with the D target reached and now support on the weekly chart.

[tu]

We definitely had some powerful negative pressure on the EU.

The monthly chart shows a weakened second top with the last two months creating powerful red candles.

The weekly chart has just completed another Fibonacci ABCD completion pattern tagging the 138.2  D fib extension and
200sma.

Many if not most times when the extensions are reached, a retracement is not far away.

February more than likely with begin with a retracement to test some upper levels for resistance... with the 127 fib being quite
close for a higher probability target.  Again, only if all other indicators reinforce the move.

 

[tu]

[tu]

The EU is showing signs of a weakening bear trend.
Even though there isn't a divergence of the OSMA and Stochastics in
relation to price action, there seems to be a definite pause in play.



Price action on the daily chart has tagged the 20sma or middle Bollinger Band
for the first time since January.

[1greyfox]

This analysis is provided by Dean, I am just posting it for him.
1greyfox

EU

The EU has found support at the low key price level of 1.2310 and may continue to consolidate over the next few weeks as the European Union struggles to find any kind or stability within its increasingly de-stabilizing situation. As traders take opportunities to buy low and sell at the first sign of any new trouble, a direction is most likely going to be difficult to attain initially as there may be many traders offloading their positions at this key support level.
The predominate prices level in the vicinity are 1.2718 above should the EU rally ad buyers come in this week. Should this level break then the next target to set sights on would be 1.3290, which held as support earlier in the year.
Should the price fall further, then 1.1775 has shown to be significant support and resistance between 2003 and 2005 and would present a likely target and then further to 1.1220 which has also been significant support and resistance and also a Fibonacci projection level from when the bear move started back in December.

[Dean]

EUR/ USD  gaining a little confidence

The price has rallied in the last several weeks and has hit the second long target of 1.3290 where the price ended last week (as of analysis posted on May 31 2010).

We may see the EUR/ USD break this resistance and test again as support. The next Key price level is likely to be around the 1.3752 level, a key support and resistance level in recent weeks and months. Also note that the 50 period exponential moving average is also currently at this level, possible providing an additional resistance level.

Should this level fail to hold as resistance then the next key level to look for could be around the 1.4279 level which has provided both key support and resistance for the EUR/ USD.
If 1.3290 holds as resistance then the price is likely to find support at 1.2719. If this support level breaks then a second key level is at the 1.2310 level.