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EURUSD charts badly on the monthly
Mon, Oct 6 2008, 15:43 GMT
by Anthony Samaha
ForexSurvivor
Always in the market signalling 40 different currencies with spread less than 35pips, 10 Equities, Crude Oil, & Gold.
A. (06 October US) Latest Impact: EURUSD charts badly on the monthly
We are happy to know that there would be nothing left for the market.
The move today is not an exaggerating cause, and it is not abnormal. It is black Monday as each Monday for the last 4 weeks.
When a currency moves 1200pips per 2 sessions such as in eurnzd, gbpaud etc…the move tells that crisis is back and we are not over at all yet, even with the rescue plan that Mr. Bush endorsed by force last Friday.
We do not rule out anymore 13000/12500 for eurusd within weeks if not days before a solid bottom is formed on the monthly chart. Then, ride one way long term trend, same speed, and same disaster towards 1.8
Would we chart 800pips in eurusd per one session? All is possible…My charts tell that 11500 won’t hold if the crisis in Europe to spread deep, and looking at the tangible assets of Europe, such level may be seen, but not in the coming month. We have to see what sort of intervention Europe will apply to the market.
B. Signal
Limit Order Valid till 06 October
C. Mission Accomplished:
n/a
Position(s) Closed
D. The Potential Flows of Trading Information constitute my (Anthony Samaha) judgment and are not trading recommendations. ****
Published on Mon, Oct 6 2008, 15:45 GMT
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