meszaros

EURUSD SHORT

Short
OANDA:EURUSD   Euro / U.S. Dollar

EURUSD SHORT My current analysis shows a fractal structure formed by a wave sequence. Fractal structure because the size of the wave structure that is forming now is double (2x) the size of the previous wave structure (1x) this is the basis of the fractal rule. My hypothesis is that a complete second decreasing wave structure can be formed thus completing the double replication of the first wave structure. In the event that the analysis is correct, we should see a correction in the coming period. Target price : 1.17305

Comments

Hi Mezaros, If possible could you point me to some sources where I can learn (or attempt to learn) about your way of wave sequence/Fractal wave analysis it seems very sophisticated and mathematicaly driven, Many thanks.
Reply
Hi Meszaros, I follow your posts and value your analysis. I noticed that you are expecting EUR/USD to fall, which is equivalent to appreciation in DXY (given below composition). At the same time you are expecting Gold to fly. Since Gold has a negative correlation with DXY, that should lead to fall in Gold prices. Are you expecting this move to be temporary or am I missing anything here? And in case of DXY, do you have a view?

CURRENCY WEIGHT:
EUR 57.6%
JPY 13.6%
GBP 11.9%
CAD 9.1%
SEK 4.2%
CHF 3.6%
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meszaros onwards_and_upwards
@onwards_and_upwards, Thank you for your comments. There is no contradiction between the two analyses. GOLD is a long term (1M timeframe analysis) and EURUSD is (D timeframe analysis) I intended this for the shorter term for the next 1-2 weeks. I agree with you, if both analyses were in the same timeframe then there would be a logical error. But in this case I see no contradiction.
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@meszaros, thank you for the clarification.
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hi, will you be able to share your opinion on the market direction as per the current scenario?
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meszaros chaymsia
@chaymsia, Thank you for your question. The market is a slightly broader concept for me. More specifically, which instruments do you mean ?
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that also looks like H&S.. to the downside...
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meszaros SmartXbot3AutoTrade
@SmartXbot3AutoTrade, Thank you for your comments. Yes. It is always risky to look for correction levels in a trend direction. Therefore, taking a SHORT position at this level is riskier than average, but the profits are higher in a successful trade.
+1 Reply
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