FXstreet.com

Daily Outlook

0

0

EUR/USD daily

Mon, May 12 2008, 15:39 GMT
by Dimo Dimov

Karoll


Elliott Wave Analysis

For more information and subscription to the full daily and weekly Elliott Wave analysis on Majors please e-mail to Dimo Dimov If you'd like to receive the daily updates for the US stock indices, please e-mail to anikolov@karoll.net


EUR/USD Daily

The chart shows my working count for the rise started from 1.5282. I think that the movement to 1.5488 is corrective in nature. If this is the case, we should see initial fall minimum to 1.5360 prior to new powerful up-move. Earlier today there was a fall but only to 1.5364 followed by a rise above 1.5488. However I still think that we should see a move down at least to 1.5360 i.e. I don’t think that the up-move has resumed. However I will be neutral at the moment because my today’s short position was closed by the movement above 1.5488. A fall below 1.5428 from here will signal that the expected fall to 1.5360 is under way.

Trading strategy: 10:59 EST; 15:59 GMT

The short position from 1.5447 was closed at 1.5495 with loss 48 pips.

Stand aside


Archive

Karoll Financial House  | 57 Hristo Botev Blvd., 1303 Sofia
http://www.karoll.net/ | office@karoll.net

Legal disclaimer and risk disclosure

This analysis has only informational and educational purpose and does not represent a trade proposal.


Interested in forex trading? forex brokerage firms!


MF Global UK Limited
Contact the broker/FDM
Open a demo account
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
MIG INVESTMENTS SA
Contact the broker/FDM
Open a demo account
FXA Securities Ltd ( MF Global Group)
Contact the broker/FDM
Open a demo account
GFS Forex & Futures
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.