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Wednesday, December 28, 2011

Re-posting from november,3: EURUSD Big picture. EW count w/monthly,weekly,daily charts

Thursday, November 3, 2011

EURUSD Big picture. EW count w/monthly,weekly,daily charts

 We will not put much words to this EURUSD EW analysis, from the first chart,above, which is, the "all time" monthly chart to the last one,below,which is a year daily chart.We can discuss about this count and maybe could be some relabeling to do but,for us is a count that help to understand the "big picture" and also show the correlation with the SPX charts with,obvious, differences,because the EURUSD is relatively new and the SPX is older and have cycle waves.
 For us,in the short and medium term, MAYBE, the USD will spike,the EUR will fall and the markets,represented by SPX will fall. We use technical analysis and others use fundamental analysis so each one has to have it's own picture of what could happen on future.
 Our target is inside a circle as shown in the first two charts.Maybe or may not be and that is the question for every and each one of the traders. We expect that this work worth it for you,only as a reference and not as a recommendation.

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