DailyFX Forex Forum | FX Forum - View Single Post - Discuss EUR/USD News with a DailyFX Analyst

		DailyFX Forex Forum \| FX Forum
Sidebar Wrapper

Thread: Discuss EUR/USD News with a DailyFX Analyst

View Single Post

#8 (permalink)

04-24-2007, 11:15 AM

Jamie Saettele Jamie Saettele is offline

Moderator

Join Date: Jan 2007

Posts: 1,341

Jamie Saettele is an unknown quantity at this point

The spike through 1.3600 is either the a 3rd wave or a C wave correction. Watch 1.3600 closely since 1.3601 is the 38.2% of 1.3548-1.3634. 1.3585 is the line in the sand for bulls. Coming under that level destroys the bullish structure and indicates more weakness ahead. Be wary of establishing longs though since a rally through 1.3634 and then 1.3637 would most likely represent the end of a 5 wave bullish sequence from 1.3541.

Attached Images

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. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. 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.