A little correction!

I am withdrawing my opinion on last article and hold back my initial opinion of bullish euro with running triangle formations. I expect eurusd to beat back the original high of 1.60 and at its first phase will have to touch upward 1.40 (thats after a longtime! yeaah)
happy trading!

eurusd - a new low is expected!

eurusd may not be able to sustain the recent gains. hence the low of 1.23 is threatened.

bullish running triangle formation!

eurusd is in course of running triangle formation. i am predicting a short term bearish trend for usd. The reasoning is that the US govt is selling $700 bln. That will surely depress the usd.

eurusd - a flag and pennant formation?

Eurusd has been raising steadily from 1.39 upto 1.4860. I expect the consolidation to last for another week, making a flag and pennant chart formation with price target to 1.56. The consolidation will be tough as sometimes it lures one to feel bearish.

EURUSD - wave pattern confirmation!

My study on eurusd has been confirmed by Elliottwave.com see link below
http://www.elliottwave.com/freeupdates/archives/2008/09/22/Why-Is-The-U.S.-Dollar-Falling.aspx

my finding was recorded here:
http://forexbuysell.blogspot.com/2008_08_07_archive.html

"the corection undergoing is irregular variation of flat correction."