•  
  • New York 19:30
  • London 00:30
  • Barcelona 01:30
  • Tokyo 09:30
  • Sydney 11:30
  • SignUp | Login

Daily Outlook

This report has been deactivated

1

0

EUR/GBP

Wed, Jul 8 2009, 12:29 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

chart

Working count for EUR/GBP for the last two weeks movement. The recovery started from the reached low 0.8399 (22.06.2009) is corrective in nature and is developing as a flat correction. Wave C of it is a terminal impulse (ending diagonal) which should be already over. In such a case one should expect a sharp and strong sell-off for a low below 0.8399. A first signal for this idea will be a fall below 0.8616 and confirmation – below 0.8580. A key support is 0.8715 and a rise above it will abort the presented count. With an eye on the expected sell-off I am currently on a short position.

EUR/GBP

Trading strategy: 07:37 EST; 12:37 GMT

Short position from (0.8638), stop loss - 0.8720, target – open


Archive

  • EUR/USD
    Published On Fri, Jul 10 2009, 08:23 GMT
  • EUR/GBP
    Published On Wed, Jul 8 2009, 12:29 GMT
  • EUR/USD
    Published On Fri, Jul 3 2009, 10:32 GMT
  • USD/JPY
    Published On Wed, Jul 1 2009, 07:55 GMT
  • GBP/USD
    Published On Thu, Jun 25 2009, 14:12 GMT
  • [ View All ]

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.


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.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.