EURUSD 2008-11-28 Complex Correction

[forexbullbear]

See EURUSD 2008-11-28 Complex Correction

Hi everyone, I like to share my view on EURUSD
The short-term up move may already done and it's heading down.
We've to see a bigger picture, in 240 minutes chart, you'll see that there is a possibility that EURUSD will make a triangle move. (A,B,C,D,E) And, it possible already have the C wave completed. So, we'll see another three wave move down to wave D.

 

[billythekid]

Though it still appears to be bearish the fact that the yield on the 10 yr bonds dropped 100 (!!!) basis points a couple of days ago has to kick in sometime...for what I believe will be a move eventually into the 1500 area...add gold going higher opec likely to reduce supply to push up price of oil and the sp going up and again we should see a bull setting in...but until then...where will we hit bottom is the question...the 1.1500 level seems to be a good candidate...though 0.8500 is there too....but I really don' think we'll make it that far...but then again I'm speculating...

 

[Pippy5000]

It would take something really big to move the Euro below 1.15 and nothing short of nuclear war will make it go all the way to 0.85 .

We'd need $25 oil and signs of utter economic collapse. It's our jobs as speculators to decide whether or not that's likely to happen. My gut feeling is that we're looking at a mild recession of 6-12 months, not 1929.