99nines
Short

Euro Sell off inbound?

FX:EURUSD   Euro Fx/U.S. Dollar
708 21 3
thought I'd add the possible pattern. I dont have confirmation of this move yet, but i've found something with my Geometric             tool that is very compelling..
Last time I posted something like this, no one believed it either..
Euro Next Month..
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99nines 99nines
notice how the trend "strength" (time for me) was caught, when price didnt keep moving down on May 24th.. I went bullish with a call for Euro to be at 1.341 on June 19/20th before another drop.... I know no one should be able to do that right?
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RedStaR 99nines
Also notice how the price drops after the FOMC meetings on May 1st and June 18th.
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99nines RedStaR
Right but we don't have knowledge of what the FOMC will do before hand... if my technical had said a up move they would have did something to follow a upmove. I dont shape any prediction around FOMC or any other news events.. it just so happens to fall on that date by "coincidence"
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RedStaR 99nines
Interesting, we will see if price retraces off 1.33-1.34 like I predict, or continues the downtrend like you predict.

We could re-analyze the move after either one, and see what went wrong for both of us.
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99nines RedStaR
Trend reversals...
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99nines 99nines
Should be a fun few weeks..
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The 0.5 @ XB and 1.27 @ AC are legit ratios.

But these are continuations of retracements.

You have to use fundamentals to narrow down your possibilities, now let's face it, the dollar will be weak in coming months and EUR/USD will go north at least until December.

With that said, you should look for patterns that follow a bullish sentiment until that time.

So in this case, an AB=CD drive.

My thoughts anyway.
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99nines RedStaR
Thanks for sharing! i really appreciate constructive criticism. The only issue with fundamentals is it's based on public knowledge, I'll leave it at that :)
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99nines 99nines
Also, This is not confirmed yet... I need confirmation on my 30min chart before I can really get behind this thought process, but things are looking bad for euro, from what I can see geometrically.
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