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The Forex Pattern Price Time Report - EUR USD - Morning Session
By: James Hyerczyk - 27-08-2008
0votesThe EUR USD is trading firm overnight on the prospects of higher crude oil price. A hurrican is poised to threaten a major U.S. refinery area which is likely to send crude oil surging higher over the next few days. Shorts are beginning to cover in the Euro, and there is some evidence of speculative buying. Technically, the main trend is down, but will turn up on a trade through 1.4908. Holding above the weekly 50% retracement price at 1.4699 is a sign of impending strength.
PATTERN
Main Trend: Down
Main Trend Top: 1.4908 (08-22-08)
Main Trend Bottom: None
PRICE
1.6038 Main Trend Top (07-15-08)
1.5768 Main Trend Top (07-28-08)
1.5500 .618 Retracement
1.5334 50% Retracement
1.4808 Week High
1.4798 Gann Angle Down
1.4773 Overnight High
1.4769 50% Retracement
1.4699 Weekly 50% Retracement
1.4653 New York Close
1.4633 Overnight Low
1.4568 Week Low
1.4537 Weekly Gann Angle Up
TIME
08-27 90-Day Cycle
Attached Images
Next Analysis: The Forex Pattern Price Time Report - USD JPY - Morning SessionContent Provided by:
James Hyerczyk
James A. Hyerczyk is a registered Commodity Trading Advisor with the National Futures Association.
Mr. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor.
DISCLAIMER:
Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or economic conditions that may substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. Prices in the underlying cash or physical markets do not necessarily move in tandem with futures and options prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds and such may work against you as well as for you. In no event should the content of this correspondence be construed as an express or implied promise or guarantee from James A. Hyerczyk and J.A.H. Research and Trading or its subsidiaries and/or affiliates that you will profit or that losses can or will be limited in any manner whatsoever. Loss-limiting strategies such as stop loss orders may not be effective because market conditions may make it impossible to execute such orders. Likewise, strategies using combinations of positions such as "spread" or "straddle" trades may be just as risky as simple long and short positions. Past results are no indication of future performance. Information contained in this correspondence is intended for informational purposes only and was obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
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